Manitou BF has today carried out a new private bond placement for €25,000,000.
The bonds, bearing interest at 4.0%, will be repayable in full on maturity in July 2022. This issue was entirely placed with the NOVO 1 fund.
The issue allows Manitou BF to extend the maturity of its debt and conclude its cycle of primary market funding initiated in 2012.
Following this transaction, which has not resulted in any increase in the group's gross debt, Manitou BF has almost €50 million in primary market debt, for total gross debt of €121 million as of 31 December 2014.
Manitou BF was assisted in this issue by Portzamparc, a brokerage firm, as Arranger and Lead Arranger for the transaction, and Banque Populaire Atlantique, as Joint Lead Arranger for the transaction, both advised by CMS Bureau Francis Lefebvre.