Benfica SAD approves bond issue of 40 million euros
Benfica SAD approved on Monday by "unanimity" a new bond loan of 40 million euros, said the executive, Domingos Oliveira, the end of an extraordinary General Assembly, at the Stadium of Light in Lisbon.
Issuing a public offering up to EUR 40 million, was justified by the need for funding the "red" football until 2013, due to the current "investment policy, in the sports side", coinciding with the month preceding the payment bond, approved in March 2007, amounting to 20 million.
"This transaction was approved unanimously. We have a bond, which was launched in 2007 and ending in April this year.
Given the investment needs and the financing of our operations, it was felt it would be useful to new loan by a different amount of 40 million," said Domingos Oliveira.
Oliveira expained too, the subscription period of the new loan, also with three years duration, will be held between 29 March and 20 April, with a minimum rate of six percent, although Domingos Oliveira has being agreed that the prospectus stills in process of approval by the Stocks Market Commission (CMVM).
"Benfica this year has taken a clear policy of favoring the sports side, so this means, at first, the not sale of top players in squad. In deciding to such a strategy means greater financing needs," explained Benfica's executive.
Issuing a public offering up to EUR 40 million, was justified by the need for funding the "red" football until 2013, due to the current "investment policy, in the sports side", coinciding with the month preceding the payment bond, approved in March 2007, amounting to 20 million.
"This transaction was approved unanimously. We have a bond, which was launched in 2007 and ending in April this year.
Given the investment needs and the financing of our operations, it was felt it would be useful to new loan by a different amount of 40 million," said Domingos Oliveira.
Oliveira expained too, the subscription period of the new loan, also with three years duration, will be held between 29 March and 20 April, with a minimum rate of six percent, although Domingos Oliveira has being agreed that the prospectus stills in process of approval by the Stocks Market Commission (CMVM).
"Benfica this year has taken a clear policy of favoring the sports side, so this means, at first, the not sale of top players in squad. In deciding to such a strategy means greater financing needs," explained Benfica's executive.
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