ROSARIO, Argentina--(BUSINESS WIRE)--Bioceres Crop Solutions Corp. (“Bioceres” or the “Company”) (NYSE American: BIOX), a fully-integrated provider of crop productivity solutions designed to enable the transition of agriculture towards carbon neutrality, announced today that its subsidiary Rizobacter Argentina S.A. (“Rizobacter”) completed a $15 million public offering of Series III corporate bonds. The bonds mature December 18, 2021, and pay an annual nominal interest rate of 4.73%.
Rizobacter intends to use the proceeds of the bond issuance to support working capital, extend debt maturities, and reduce financing costs, as well as for general corporate purposes, including further expansion in international markets.
Mr. Enrique Lopez Lecube, Chief Financial Officer of Bioceres, said, “The bond offering follows the recent upgrade of Rizobacter’s credit ratings, which enabled our main operating subsidiary to complete the transaction on favorable terms. This offering is aligned with our financial strategy to keep improving Bioceres’ debt profile and financial flexibility, as we execute our main growth drivers based on HB4® and international expansion. The timing of the transacation is also in line with Rizobacter´s working capital needs, as we prepare to build up inventories that support our growth plans for the upcoming summer crops planting season in the Southern Hemisphere.”
About Bioceres Crop Solutions Corp.
Bioceres Crop Solutions Corp. (NYSE American: BIOX) is a fully-integrated global provider of crop productivity technologies designed to enable the transition of agriculture towards carbon neutrality. Bioceres’ solutions create economic incentives for farmers and other stakeholders to adopt environmentally friendlier production practices. The Company has a unique biotech platform with high-impact, patented technologies for seeds and microbial ag-inputs, as well as next generation crop nutrition and protection solutions. Through its HB4® program, the Company is bringing digital solutions to support growers’ decisions and provide end-to-end traceability for production outputs. For more information, visit https://investors.biocerescrops.com
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