HKFoods Weighs EUR90 Million New Note Issue; Tender Offer Launched for 2027 Notes
HKFoods (HKFOODS.HE) is considering issuing new euro-denominated floating-rate senior secured notes worth 90 million euros "in the near future," subject to market conditions.OP Corporate Bank as offeror also invited holders of the 90 million-euro floating-rate senior secured notes due June 17, 2027, to tender their notes for cash, according to a Monday release by the Finnish food company. Noteholders were offered a purchase price of 103.9%, with the offer period closing on Sept. 14.Proceeds from the planned issue were earmarked for refinancing of the 2027 notes and for any potential follow-on redemption. The tender offer, meanwhile, is aimed at proactively managing upcoming debt redemptions and extending the company's average debt maturity profile.
