SIC – Sociedade Independente de Comunicação, SA (“SIC”) is going ahead, in a statement sent this Tuesday to the Portuguese Stock Market Commission (CMVM), which has “launched a new bond issue, called“ SIC Obligations 2021-2025 ”, to It is implemented through an IPO for SIC Papers 2021-2025 and a Public Offer for the Exchange of SIC Notes 20-20-20, issued in July 2019, for SIC Notes 2021-2025 “In June 2019, a € 31 million bond was issued.
SIC explains that the issuance amounts to a global amount of 30 million euros, with the possibility of transferring subscription or exchange orders to banks between May 24 and June 7, 2021. One million bonds will be issued with a unit value of 30 euros.
The two-year operation amounted to € 51 million and was a success, with demand four times exceeding supply. SIC, the television channel of the Impresa Group (owner of Expresso), has attracted more than 10,426 investors. Originally, the bid was for an issue of 30 million euros, but the request prompted SIC to increase the issue by 21 million euros.
In the new release, the repayment date will be June 11, 2025, with an overall flat interest rate of 3.95% per annum. The bonds issued by SIC on July 10, 2019, with fixed capital repayment on July 11, 2022, have a total fixed interest rate of 4.50% per annum.
“ For exchange purposes, according to the applicable allocation criteria, each SIC 2019-2022 bond will comply, in turn, subject to taxes, commissions and other fees, a SIC 2021-2025 bond and a cash prize of 0.4917 euros (equivalent to 1.639% of the unit face value of SIC bonds 2019-2022, ” SIC explains in the release prospectus posted on the CMVM website.
SIC also clarifies that “on the public exchange offer settlement date (June 11, 2021), interest due between the start date of the continuing interest calculation period for SIC bonds 2019-2022 (June 10, 2021) January 2021, inclusive) and the settlement date will also be paid, exclusively, at an amount 0.56625 EUR for each SIC 2019-2022 bond, subject to taxes, commissions and other fees.
SIC, which is the issuer, has, in addition to the general television program service, SIC Notícias, SIC Internacional, SIC Radical, SIC Mulher, SIC K, SIC Caras and TXILLO (SIC channels).
The banks coordinating the issuance of the bonds are Caixa – Banco de Investimento and Novo Banco.