Leasing company ELANA Agrocredit (0EA BU) places a 3.2% semiannual pay, 63-month, EUR 5.26m corporate bond, according to a regulatory filing by the Company on 17 July 2017. This is the first bond issue of the farmland leasing specialist.

ELANA Agrocredit first bond issue terms

The bond was placed on July 15th 2017. The principal will be amortized in 5 annual installments starting Oct. 15th 2018 while interest will be due on a semiannual basis with one three month payment due from July 15th 2017 until Oct. 15th 2017 only. Principal repayments are scheduled in line with the Company’s operations which entail leasing payments being collected once a year from Sept. 15th until Oct 15th when farmers have realized their agricultural production.

Funding investment activity

ELANA Agrocredit has been fueling is business model through debt financing and equity one from the stock market. The company got listed on the Bulgarian Stock Exchange in 2013 after a successful IPO, which was awarded by the local exchange for contribution to the development of the local capital market. In 2015 financial investors trusted again the business model and the company attracted new BGN 14 mln. in an SPO. ELANA AgroCredit relying on regular partnership for debt financing – EBRD and Societe Generale Expressbank provided loans twice to boost leasing activity in farming.

ELANA Agrocredit dividend 2017

The gross dividend per share amounts at BGN 0.07791, which accounts for 5% yield according to market prices.

Latest business data

Since the beginning of the business in 2013 till the end of June 2017 ELANA Agrocredit has invested BGN 51 707 143 in financial leasing contracts with farmers. In addition, BGN 5.462 mln. was distributed as working loans to farmers in the course of 2016/2017 agricultural year.

ELANA Agrocredit investor bulletin

Check the latest ELANA Trading equity reports