The company Rizobacter, specialized in microbiology for agriculture and owned by Bioceres, announced that it completed the offer of US $ 17 million in Series IV Negotiable Obligations (ON).
It did so under the global corporate bond program, with a duration of 36 months and a nominal annual interest rate of zero percent.
According to the company, the funds from the bond issued will be used to support working capital, extend debt maturities and reduce financial costs, as well as for corporate expenses.
“Rizobacter’s performance reflected in its credit rating allowed us to complete a transaction on very favorable terms. We made excellent use of our ability to issue dollar-link debt at an opportune moment in which the local credit market seeks to channel, towards instruments denominated in hard currency, the additional liquidity arising from the expansionary monetary policy implemented in response to the pandemic “, highlighted Enrique Lopez Lecube, CFO of Bioceres.
He added that the issuance is consistent with the financial strategy of continuing to improve Bioceres’ debt profile and “increase financial flexibility” to support growth initiatives around HB4, as well as the international expansion of our business.
Last June, the firm had announced financing for US $ 15 million, in that case for working capital and international expansion, also in ON Series III, with a duration of 18 months and an annual nominal interest rate of 4.73 %.
Rizobacter is the main operating subsidiary of Bioceres Crop Solutions Corp, a company that began trading on Wall Street last year, and is led by Federico Trucco, as President and CEO, as an integrated provider of crop productivity solutions designed to enable the transition from agriculture to carbon neutrality.