Cresud announces $28.6 million notes issuance

EditorLina Guerrero
Published 16/07/2024, 19:13
CRESY
-

Cresud Inc. (NASDAQ:CRESY), an Argentine real estate firm, has successfully issued Series XLVI notes in the local capital markets, raising an equivalent of USD 28.6 million. The notes were offered and will be issued at a face value of 100 percent, with an interest rate set at 1.50%.

The issuance and settlement date for the notes is slated for July 18, 2024, with a maturity date three years later on July 18, 2027. Interest on the notes will be paid semiannually, with the first payment scheduled for January 18, 2025. The company has opted for a bullet payment method, meaning the principal will be paid in full at maturity.

This financial move was disclosed in a filing with the Comision Nacional de Valores and Bolsas y Mercados Argentinos on Monday and reported to the Securities and Exchange Commission (SEC) today. The transaction signifies Cresud's active participation in the capital markets and provides investors with an opportunity to invest in fixed-income securities issued by the company.

Cresud, with its headquarters in Buenos Aires, operates within the real estate sector, specifically focusing on the development and management of properties across various segments. The company's business model encompasses commercial, real estate, financial, and agricultural operations.

Investors may view the issuance as a strategic step by Cresud to diversify its financing sources and extend its financial profile amidst the economic conditions of the local market. The notes issuance, handled by the company's executives, aligns with Cresud's broader financial strategies and reflects its ongoing efforts to strengthen its capital structure.

The information provided here is based on the company's latest SEC filing and is intended to offer investors a straightforward account of Cresud's recent financial activities.

InvestingPro Insights

Cresud Inc. (NASDAQ:CRESY) has made headlines with its latest capital market activities, and investors keeping a close eye on the company will find the following insights from InvestingPro particularly illuminating.

Cresud's impressive gross profit margins stand at 49.01% for the last twelve months as of Q3 2024, showcasing the company's ability to maintain profitability in its operations. Additionally, the firm pays a significant dividend to shareholders, with a current yield of 9.24%, which is a compelling factor for income-focused investors.

On the valuation front, Cresud's market capitalization is currently at $638.27M, reflecting the market's current assessment of the company. While the stock has experienced a downturn over the last week, with a 1 Week Price Total Return of -3.29%, it is worth noting that the company has had a high return over the last year at 9.93%. This volatility presents a mixed picture, suggesting that while the company faces short-term challenges, it has delivered strong returns over a longer period.

For investors interested in digging deeper into Cresud's performance and potential, there are additional InvestingPro Tips available that cover a range of metrics, including the company's EBITDA valuation multiple and its standing as a prominent player in the Food Products industry. To explore these tips and more, investors can visit InvestingPro's Cresud page. Furthermore, readers can use the coupon code PRONEWS24 to get up to 10% off a yearly Pro and a yearly or biyearly Pro+ subscription, unlocking even more expert insights and data to inform their investment decisions.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.