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Haitong is global coordinator of Benfica SAD's bond issue

Oversubscription was 2.59 times

Demand for Benfica SAD's latest bond offering in the amount of EUR 50 million reached EUR 129,557 million, an oversubscription rate of 2.59 times. In this transaction, concluded yesterday, Benfica SAD gained 6,838 new investors, of which the bulk were in the range of up to EUR 5,000. Investors above EUR 50,000 totalled 171.

This bond issue, which matures in 2019, was the largest ever made by Benfica SAD, while its interest rate - 4.25% in gross annualised terms - was the lowest.

The purpose of the Benfica SAD 2016-2019 bond is to consolidate liabilities into a longer maturity through the refinancing of loans.

The coupon is semi-annual corresponding to an effective annual rate of return net of tax above 3.08597%. Haitong Bank and Montepio Investimento were the global coordinators of the transaction, acting as co-leaders together with Caixa BI.

The placement syndicate also included ActivoBank, Banco Best, CGD, Millennium bcp, Montepio, Novo Banco and NB dos Açores.

Source: Oje (portuguese version only)