LabelVie has announced a revision of the interest rates for the variable-rate, unlisted bonds in tranches “A” and “C” from its bond issue dated July 29, 2021.
Effective July 29, 2024, the new interest rate for both tranches will be 3.54%, as stated in a company press release.
Tranches A and C have maturities of five years and carry risk premiums of 85 basis points. Both tranches are linked to the same monetary rate of 2.69%, as published by Bank Al-Maghrib on July 22, 2024.
This adjustment follows the provisions outlined in the minutes of the board chairman’s decision dated June 29, 2021. These provisions, which define the characteristics of LabelVie S.A.’s private placement bond issue from July 29, 2021, mandate an annual revision of the interest rates for tranches “A and C” on the anniversary of the bond’s issuance date.
