AudioValley Announces the Three-year Extension of Its €5 million Bond Issue With Patronale Life
30 Marzo 2021 - 8:30AM
Business Wire
The new maturity date is now December 2024.
Regulatory News:
AudioValley, an international specialist in B2B digital audio
solutions, (Paris:ALAVY) (Brussels:ALAVY) (ISIN code:
BE0974334667 / ticker symbol: ALAVY) has negotiated a three-year
extension of its €5 million bond issue with insurer Patronale
Life.
Issued on December 16, 2019, for an amount of five million
euros, at an average annual rate of 8%, this issue had been 100%
subscribed by Patronale Life for a period of two years, i.e., a
repayment planned for the end of 2021.
The new maturity date has been extended to December 16,
2024.
Sébastien Veldeman, CFO AudioValley: "This is excellent news
with respect to our 2021-2023 development plan. We'll be able to
focus our financial resources on growing our business. We have also
renegotiated a 6% fixed annual rate. We thank Patronale Life for
understanding the essentials of our business. Its support will help
AudioValley achieve its goals for 2021, including the start-up of
the new Jamendo Rights Management business that will manage the
music rights of singer/songwriters."
Next event:
2020 annual results 6 April 2021
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version on businesswire.com: https://www.businesswire.com/news/home/20210329005614/en/
AUDIOVALLEY, investor relations Sébastien Veldeman
investorrelations@audiovalley.com
AUDIOVALLEY, press relations Emilie
Dehan press@audiovalley.com