Sporting SAD increases bond offering to 40 million – Bonds

Sporting’s SAD increased the value of the bond issue announced on October 15 to 40 million euros, compared to the initial 30 million, the “Leonine” sports corporation (SAD) announced this Tuesday in a statement to the Securities Market Commission Furniture (CMVM).

The issue is divided into a public subscription offer and a public exchange offer that focuses on the debentures that mature this year. The subscription offer thus increases to 8,000,000 bonds, with a nominal value of 5 euros, compared to the initial 6,000,000, while the exchange offer maintains 4,000,000 bonds. The fixed annual gross interest rate remains at 5.25%

This is SAD’s second foray led by Frederico Varandas into the bond market this year, after placing 50 million euros in May at an interest rate of 5.75%.

This was the last day that offers could be increased. Offers began on October 18th and end on October 31st. The result of the operation will be announced on November 4th and admission to trading on Euronext Lisbon will be on November 6th.

It is recalled that this Tuesday Manchester United “expressed interest in paying Sporting SAD the value” of the termination clause of the Alvalade club’s coach, Rúben Amorim, in the amount of 10 million euros, SAD communicated to CMVM, with the departure depending exclusively on an agreement between Amorim and the management of Manchester United.