PARIS (Reuters) – French sugar and ethanol group Tereos said on Monday its subsidiary Tereos Finance Groupe I intended to launch, subject to market conditions, 300 million euros ($340.17 million) in senior unsecured notes, which it will use to repay existing debt.
The bond would be due in 2027, it said in a financial release posted on its website. The group had already issued similar notes in October 2020, due in 2025.
Tereos, the world’s second-largest sugar producer by volume, had been grappling with low prices after the end of European sugar quotas in 2017, which had hit the sugar maker’s results for several years and driven up its debt levels.
($1 = 0.8819 euros)
(Reporting by Sybille de La Hamaide, editing by Gus Trompiz)
