Spanish food group Sos has completed a EUR300m (US$395m) senior debt offer to restructure its liabilities and obtain better credit terms to finance future acquisitions, a company spokesman told just-food on Wednesday.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
“By doing this we can cancel part of our bank debt and obtain better credit ratings,” he said.
The offer comprised 6,000 debt notes at EUR50,000 each. The notes pay “excellent” interest rates, the spokesman added.
The move comes as Sos, which has over EUR500m in debt, is struggling to emerge from losses stemming from high raw material prices.
The company reported a 52% plunge in nine-month net profits as soaring olive-oil feedstocks offset a 22% jump in group revenues.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
