SAD Sports announced on Friday the launch of a sales bond issue of € 30m with a gross interest rate of 5.25% and maturity in November 2021.
The aim of the issue is to fund the repayment of another bond issue, the initial maturity date was May this year and it was postponed until November 26.
SAD Leonin will pay more than the competitors of Futebol Clube for Porto and Sport Lisboa and Benfica, in their distinctive offerings of obligations that they made in mid-year.
According to the prospectus of the issue issued, approved by the Securities Market Commission, the subscription of SAD Sports obligations starts on November 12 and ends on November 22.
Before subscribing to the bonds, the investor should ask the financial intermediary to simulate investment costs, because "for small amounts invested this investment may not even be profitable ", warns the possibility.
Here are the main data on the offer:
- 1. The maximum amount of the issue is 30 million euros, which equates to six million bonds, with a pair of five euros. But it can be increased to up to 60 million euros by November 16. The issue will not be made if the subsidized bonds do not reach 15 million euros.
2. The subscription period runs from November 12 to November 22. The results will be determined on the 23rd and the issue will be settled on the 26th.
- 3. The gross interest rate is 5.25% and the effective interest rate is 3.81%. Interest is payable every year. The bonds mature on November 26, 2021.
4. The minimum subscription orders are € 100, which equates to 20 bonds. From this amount, orders must be expressed in a multiple of five euros
5. The offer of SAD leonina pays more interest than the € 35 million SAD FCP issue in June, with a gross interest rate of 4.75%. It is also more profitable than the 4% gross paid by SAD from Benfica in its July issue of 45 million euros.
6. The obligations of the offer "do not benefit from special securities or any choice in the payment" but SAD Sports "will give all its faithful to achieve".
7. There are 32 risks mentioned in the prospectus. The risks include the negative equity of SAD and two criminal lawsuits: the assault of the Sports Academy in Alcochete by a group of individuals who have even attacked SAD players and officials; and the criminal investigation, on suspicion of corruption, Basketball Campaign.
8. SAD Sporting, at the end of September, had a total debt of 112.2 million euros. The company's equity has been negative or positive with value near zero.
9. Montepio Investimento is the global co-ordinator of the issue, which has no firm commitment or guarantee of location by banking and transaction syndication.
10. Montepio Investimento and banks that are part of the banking syndication will receive an estimated value of 1,092 million euros in commissions.