Cresud will offer cash and new bonds in exchange for $73.6 mln in notes maturing in November

Cresud, one of Argentina’s largest agriculture companies, launched an invitation to holders of its 9% dollar-denominated bonds due this November to exchange them for cash and new bonds with longer maturities, as capital controls prevent it from making the payment on time. The company offer to exchange $44.2 million of the $73.6 million in existing bonds for two new notes paying the same interest in an invitation open from October 26 to November 5, according to a securities filing. One of the new notes will mature in three years, the other in two, adding that the additional 40% of the money will pay back in cash.

Ledesma sold 30% of its shares in Glucovil to Cargill in 34,5 mn

Ledesma, a company from Jujuy, announced today the sale of 30% of the shares it owned in Glucovil Argentina S.A. (a company dedicated to the wet milling of corn) to the international firm Cargill Southamerican Holdings for $34.5 million. The funds obtained will be used to invest in its Genesis XXI plan (to increase competitiveness and promote the growth and innovation of the company) and to reduce liabilities.

Morixe makes a capital contribution of $10.75 million

The board of directors of Morixe, a company with more than 100 years of experience in the food industry, informed that they approved a new increase in its capital by 60 million shares for 14 pesos per share for a total of 840 million pesos ($10.75 mn). In the last three years, Morixe multiplied by ten its volume of operations and its projected sales for 2020 are equivalent to $90 million.