OCI NV, the global nitrogen-based fertilizer producer and engineering and construction contractor, announced the launch of a €150m equity offering along with a €300m convertible bond offering, according to a press statement issued on 18 September.
“OCI NV intends to use the net proceeds of the offerings for general corporate purposes, including the financing of the extensions to the previously announced exchange offers, to extend its existing maturity profile,” the statement read.
The equity and bond offerings proceeds will also be used to repay the company’s existing debt facilities, maturing in the next twelve months, owed to one of the Joint Bookrunners and Joint Lead Managers, among others.
The company stated that settlement of the ordinary shares, issued in the Equity Offering, and the admission to listing and trading on MYSE Euronext in Amsterdam is expected to take place on Monday, 23 September.
The company added that the settlement of the bonds is expected to take place on or around 25 September 2013.
On Sunday 28 July, OCI NV acquired 97.44% of Egypt’s Orascom Construction Industries (OCI SAE), or 201,616,948 shares of the biggest listed company in the stock exchange.OCI SAE’s full stock market pullout was finalized on 1 August.