November 22, 2022

The citrus company began the call to subscribe negotiable bonds for a face value of up to US$15,000,000 and expandable up to US$50,000,000, which will be used to paying-in working capital and refinancing short-term liabilities.

November 17, 2022. San Miguel, a leading global company in the production and export of natural ingredients derived from citrus and fresh fruit, launched the call for the issuance of unconditional negotiable bonds -series VIII- with the purpose of paying-in working capital and refinancing short-term liabilities. 

These are dollar-linked negotiable bonds payable in a single 24-month maturity, for a face value of up to US$15,000,000 and extendable up to US$50,000,000. They have an A (arg) credit rating and a BVS2 (arg) Sustainability-Linked Bond rating, for being aligned with the ICMA (International Capital Market Association) Principles, both granted by Fix SCR S.A. (affiliate of Fitch Ratings). The publication stage will last until Wednesday 23rd, with Thursday 24th being the day of the tender. 

For the company, it will be the third time that the Negotiable Bonds are issued in line with the Sustainability-Linked Bond Principles, which means that San Miguel establishes a commitment associated with the use of renewable energies, specifically of the wind type. This commitment is part of its Climate Action Plan, a 10-year initiative launched in 2020 to reduce its carbon footprint and which also integrates the conservation of native forests and the inventory of greenhouse gases. As part of this plan, San Miguel is actively looking for new strategies to strengthen its supply from clean sources and generate greater savings in terms of carbon. 

Likewise, the placement is framed in the strategic transformation process initiated by the company during this year, whose main axes have to do with deepening the focus on the industrial business to consolidate its leadership as the main lemon processor at global level and improve its capital structure.