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Targetspot S.A. — Capital/Financing Update 2021
Mar 30, 2021
4007_iss_2021-03-30_8a5f4a12-7b31-4035-adef-caf31d6c6004.pdf
Capital/Financing Update
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Press release
www.audiovalley.com
30 March 2021 - 08:30 CEST
Investor relations: Sébastien Veldeman w [email protected] w Press relations: Emilie Dehan w [email protected] w
AudioValley announces the three-year extension of its €5 million bond issue with Patronale Life. The new maturity date is now December 2024.
AudioValley, an international specialist in B2B digital audio solutions, (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
CONTACTS
AUDIOVALLEY, investor relations Sébastien Veldeman [email protected] AUDIOVALLEY, press relations Emilie Dehan [email protected]