Sonae converts $550 million bond loan to fund Musti bond offering

In a statement to the market, he said that Sonae had converted the bond loan and related bond issues, under the financing agreement for the acquisition of the Northern Musti Company, for a total amount of EUR 550 million.

In the memorandum issued by the Securities Market Commission (CMVM), the company said it had “converted the bond loan and related bond issues, which were executed under a financing agreement in order to finance the voluntary public offering of shares in the Finnish company.” Should I?

In this context, he said that the related issues total 550 million euros “due on November 27, 2028, through private subscription and without guarantees.”

The company also said that “as a result of these initiatives, the Sonae Group has today contracted financing operations with a sustainable “green” or “ESG-linked” (environmental, social and governance indicators) framework of approximately 2.4 billion euros.”

According to the group, “this value represents approximately 90% of the medium and long-term financing lines of the companies fully consolidated by Sonae, among the available used lines, and in Sonae SGPS this value is greater than 90%.”

He pointed out that the spread of these operations “is linked to several factors, namely the performance of Sonai Group companies, the increasing presence of women in leadership positions, the reduction of greenhouse gas emissions and the increase in the recycling rate.” He concluded his speech by saying: “From the waste generated in shopping malls.”

In March, the Sonae-led consortium announced that it had “successfully” completed the public takeover offer (OPA) for Musti, having acquired 80.65% of the company, for an investment of €700 million.

Sonae leads the consortium with a 98% stake, “with the remaining capital shared between Jeffrey David, Chairman of Musti, Johan Dietl, Member of Musti’s Board of Directors, and David Rönnberg, CEO. [presidente executivo] Mosty, who have long experience and a proven track record of success in this sector.”

The Maya Group believes that Musti is “in a prime position to capitalise on market growth trends, offering a strong multi-channel value proposition that includes a network of over 340 stores in Finland, Sweden and Norway and e-commerce operations specialising in pet care and food products.