Amtel-Vredestein Postpones Eurobond Issue

Amtel-Vredestein N.V., has postponed plans to issue a previously announced 150 million euro Eurobond due to “adverse market conditions.” Instead, it plans to investigate a range of other funding options with Nomura International plc and other financial institutions.

“While a Eurobond may be an effective financial instrument, current market conditions are not optimal and an issue at this time could potentially restrict our pursuit of a more comprehensive financing programme,” said new CEO Peter Zolotarev. “Over the past several years, Amtel-Vredestein has expanded its production and distribution platform, and nearly completed its modernisation programme. We are currently re-visiting the Company’s development strategy and our first priority must be to strengthen the balance sheet to ensure long-term sustainability, profitability and stakeholder value.”