Insur has notified the MARF and the CNMV of the convening of a Bondholders' Meeting with the aim of submitting for approval the novation of the conditions of the bond issued in December 2021 by its subsidiary Insur Promoción Integral, the parent company of its real estate development activity.
The issue, for an amount of €30 million, currently has a maturity date of 10 December 2026. The proposal to be submitted to the meeting includes, among other aspects, the extension of the maturity date to 10 December 2030.
According to the information submitted to the market, the novation would allow the bond funds to be used for assets and locations where the group already operates, as well as authorising the partial investment of the resources through joint ventures, owned by the issuer and managed entirely by it.
Bestinver Securities has been appointed as financial advisor to Insur Promoción Integral in this process, having acted as global coordinator and placement agent in the bond issue carried out in 2021.
