St Helier, Jersey, 2014-07-11 08:02 CEST (GLOBE NEWSWIRE) -- Black Earth Farming Ltd announces SEK 60 million bond repurchase offer
Black Earth Farming Ltd (“the Company”) announces the intention to repurchase up to SEK 60 million nominal of its bond series 3 (SEK 750 million, 9.4%, 2013/2017, ISIN SE0005472024) at 99% of the nominal amount. The offer will be open until and including 16 July, 2014.
Investors that wish to participate in the offer should contact Pareto Securities, Simon Dobas (+46-8-402 50 00, simon.dobas@paretosec.com). Orders will be treated on a first-come-first-serve basis. If cumulative orders reach SEK 60 million, books will be closed.
The repurchase offer is in line with the Company’s efforts to reduce financing costs and is partly funded by the Company’s recently announced land sales. Since its 1Q 2014 report on May 16, the Company has repurchased SEK 50 million of its bonds in the open market. The Company currently owns 175 million of its own bonds.
For additional information, please contact:
Simon Dobas, Pareto Securities AB
Tel: +46-8-402-52-24
Erik Danemar, Black Earth Farming Ltd.
Tel: +7-495-664 27 63
Notes to Editor:
Black Earth Farming Ltd. is a leading farming company, publicly listed on Nasdaq OMX Stockholm and operating in Russia. It acquires, develops and farms agricultural land assets primarily in the fertile Black Earth region in southwest Russia. Black Earth Farming has gained a strong market position in the Kursk, Tambov, Lipetsk and Voronezh areas, controlling some 280,000 hectares of what perhaps is the world's most fertile soil. In 2014 Black Earth Farming intends to harvest approximately 185,000 hectares, effectively making it one of the world's largest public farming companies by cropped area. The Company's main products are wheat, barley, corn, sunflower, soya, rapeseeds and potatoes.
Corporate website: www.blackearthfarming.com