Agricover Holding bonds with a value of EUR 40mn start trading on Wednesday on Bucharest Stock Exchange


Bucharest Stock Exchange (BVB) informs that on Wednesday, March 29th, will start trading on BVB Regulated Market the first bond issue of Agricover Holding, the main player in the Romanian agribusiness. The bonds will be traded under the ticker AGV26E (ISIN - RO1ZD96WS646).

The debut to trading of Agricover bonds will be marked by the official opening of the trading session, which can be watched on the social media channels of Bucharest Stock Exchange (Facebook and YouTube).

The company carried out a private placement in January 25th – 29th, 2021, attracting EUR 40mn from investors. Within the private placement, 800 bonds denominated in euro were put up for sale, with a face value of EUR 50,000. The bonds are not guaranteed, they have a 5-yrs maturity and an interest of 3.5% p.a.

The funds raised through the bond issue will be used to finance its subsidiary Agricover Credit IFN to support its growth strategy, which envisages maintaining a fast-growing growth in farmer lending, comparable to that recorded before 2020.

BCR and BRD-Groupe Societe Generale (BRD) carried out the private placement and, at the same time, the listing of the bonds at BVB.

The majority shareholder of Agricover Holding is the Chairman of the Board, Jabbar Kanani, with a participation of 87.269% of the subscribed and paid-in share capital. Another major shareholder is the European Bank for Reconstruction and Development (EBRD), which owns 12.727% of the shares of Agricover Holding.

Agricover Holding is present on the agri-business, agri-finance and agri-food markets, through its subsidiaries: Agricover, Agricover Credit IFN and Peris Slaughterhouse. With a strong integrated and original business model, the Agricover Group offers specialized solutions for the development of Romanian farmers' businesses. Currently, within the subsidiaries Agricover Holding S.A. more than 1,050 employees work. The group serves a portfolio of over 6,500 farmers' customers, who exploit over 2.4 million hectares of arable land nationwide.