October 27 (SeeNews) - Croatian blue-chip consumer goods distributor Atlantic Grupa [ZSE:ATGR] said its management board decided to redeem early its bonds maturing in June 2021.
Any unredeemed existing bonds will be cancelled on December 17, 2020, in line with the issue's prospectus dating June 7, 2016, Atlantic Grupa said in a statement on Monday.
In June 2016, the group sold 200 million kuna ($31 million/26 million euro) worth of five-year bonds at an annual interest rate of 3.125%. The securities are listed on the Zagreb Stock Exchange (ZSE).
Atlantic Grupa said earlier this month it is considering the issuance of new bonds and their listing on the ZSE's official market. It did not disclose the size of the planned new debt.
On Monday, the company noted that if the considered issuance of the new bonds takes place before the cancellation of the existing bonds, the holders of existing bonds will have the option to exchanged them for the new ones.
The company's shares last traded on the ZSE on Friday, closing up 1.67% at 1,220 kuna. They did not trade at opening on Tuesday.
Atlantic Grupa is a regional distributor of fast-moving consumer goods and a producer of functional foods and supplements. It also owns a pharmacy chain in Croatia.
(1 euro = 7.57947 kuna)