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AICEP
Agência para o Investimento e Comércio Externo de Portugal

CABEÇALHO

The construction company intended to obtain 75 million with a new bond issue, but decided to revise the value upwards. It will issue 140 million euros.

Mota-Engil revised upwards the value of the bond issue it is carrying out with small investors. Instead of the 75 million initially planned, it will issue almost twice as much. The value of the financing operation increased to 140 million euros, with the subscription period ending at the end of this week.

 

“It is informed that Mota-Engil decided, on October 18 2019, to increase the maximum number of bonds representing the bond loan (…) to 280,000 (two hundred and eighty thousand) bonds and, consequently, to increase the respective global nominal value to up to 140,000,000 euros (one hundred and forty million euros)”, states the statement sent to CMVM.

 

The public offering for subscription began on Monday, October 14, and the value of the issue may be reviewed until 23 October, which eventually happened ahead of time, rising from 75 to 140 million euros. The deadline for subscription of these debt securities intended for retail investors is next Friday, 25 October.

 

In these bonds with maturity of 2024, Mota-Engil offers a gross interest rate of 4.375%, this with a minimum investment of 1,500 euros, which corresponds to three bonds (which have a nominal value of 500 euros each).

 

Alongside the new issue, the construction company has two operations in place to exchange existing retail debt for securities maturing in 2024. To encourage the exchange, the construction company offers a premium to investors. Each 2020 Mota-Engil Bond will correspond, as a counterpart, subject to taxes, commissions and other charges, to a 2024 Mota-Engil Bond and a cash premium in the amount of 5.04 euros.

 

In the case of securities maturing within two years, each 2021 Mota-Engil Bond will correspond, as a counterpart, subject to taxes, commissions and other charges, to 20 Mota-Engil 2024 Bonds and a cash premium of 169 euros.

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