Estonia’s PRFoods extends offering period for add-on amid volatility

By Wendy Van Sickle

Columbus, Ohio, March 16 – PRFoods AS extended by two weeks the offering period of its up to €1,890,400 additional 6¼% secured notes due 2025 due to increased market volatility surrounding the Covid-19 outbreak, according to a company news release on Monday.

The offering period will now run through 10 p.m. ET on March 30.

The subscription period began on March 10.

The company conducted an initial private offering of the notes in January, when €9,109,600 notes were issued. The new notes will be consolidated to form one series with the first tranche.

The price of the additional notes will be 101, which includes interest calculated since Jan. 22. The notes are freely callable and can be put upon certain financial events.

The proceeds will be used mainly for refinancing existing debt.

The current offering is being made to both retail and institutional investors in Estonia and to international institutional investors.

PRFoods is a food production company based in Tallinn, Estonia.

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