The German holding company of Russian agricultural corporation EkoNiva-APK completed placement of a bond on the Stuttgart Stock Exchange, the company said.
The issue volume for the five-year bond amounted to 50 million euros ($66 million) at a fixed interest rate of 8.75 percent.
EkoNiva is Russia's third-largest milk producer with daily output exceeding 230 tons. Most of the company's assets are in the Voronezh region. EkoNiva-APK Holding chief executive Stefan Dürr said the company will use 30 million euros of the proceeds from the bond issue completed Monday to optimize its financing structure and 20 million euros to finance its continued production growth.
(MT)
A Message from The Moscow Times:
Dear readers,
We are facing unprecedented challenges. Russia's Prosecutor General's Office has designated The Moscow Times as an "undesirable" organization, criminalizing our work and putting our staff at risk of prosecution. This follows our earlier unjust labeling as a "foreign agent."
These actions are direct attempts to silence independent journalism in Russia. The authorities claim our work "discredits the decisions of the Russian leadership." We see things differently: we strive to provide accurate, unbiased reporting on Russia.
We, the journalists of The Moscow Times, refuse to be silenced. But to continue our work, we need your help.
Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and every contribution makes a significant impact.
By supporting The Moscow Times, you're defending open, independent journalism in the face of repression. Thank you for standing with us.
Remind me later.
