Bond Refinance – First Tranche Completion
Summary by AI BETAClose X
This announcement contains inside information for the purposes of Article 7 of the UK version of Regulation (EU) No 596/2014 which is part of UK law by virtue of the European Union (Withdrawal) Act 2018, as amended ("MAR"). Upon the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.
23 June 2026
Dekel Agri-Vision Plc / Index: AIM / Epic: DKL / Sector: Food Producers
Dekel Agri-Vision Plc
('Dekel' or the 'Company')
Bond Refinance - First Tranche Completion
Dekel Agri-Vision Plc (AIM: DKL), the West African agriculture company focused on building a diversified portfolio of sustainable agricultural projects, including the Ayenouan palm oil operation (the 'Palm Oil Operation') and the Tiebissou cashew processing plant (the 'Cashew Operation') in Côte d'Ivoire, is pleased to announce the successful completion of the first tranche of its recently approved €13.3 million bond programme (the 'New Bond').
· The first tranche, totalling approximately €10.9 million, has been subscribed by a group of existing regional institutional investors including banks, pension funds and insurance companies. Completion follows the process agreed in late 2025 with the relevant bondholders, and the subsequent formal approval of the prospectus by the regional financial markets regulator, as announced on 12 May 2026.
· The New Bond has a six-year term and carries an annual interest rate of 9.5%, with an initial two-year grace period on principal repayments. The Company believes the revised debt profile will better align future debt service obligations with the cash generation profile of the Group and provide increased financial flexibility over the medium term.
· The proceeds of the first tranche will be used entirely to refinance 84.4% of the existing bond debt principal of €12.9 million.
· The Company will continue to evaluate the issuance of additional tranches under the €13.3 million bond programme to refinance the remaining bond balance of approximately €2 million. The Company retains the ability to repay this balance under its existing terms and will provide further updates as appropriate.
· As outlined in the Company's announcement of 12 May 2026, the Board continues to evaluate a range of corporate finance options aimed at enhancing shareholder value. The successful completion of this first tranche drawdown provides an important platform of financial stability whilst these initiatives are assessed.
Youval Rasin, Chief Executive Officer of Dekel Agri-Vision Plc, said: "We are delighted to complete the first drawdown under our new bond programme, which represents another important step in strengthening the Group's balance sheet and financial position.
The refinancing of our existing bond debt extends our debt maturity profile and provides increased financial flexibility at an important time for the business. Combined with the continued operational progress being delivered across both our Palm Oil and Cashew Operations, this refinancing provides important stability and further demonstrates the confidence of our institutional investors in the Group and its strategy whilst we continue to assess a range of corporate finance initiatives aimed at maximising value for shareholders.
We would like to thank our institutional investors and financial partners for their continued support and confidence in Dekel's long-term strategy and future prospects."
** ENDS **
For further information, please visit the Company's website www.dekelagrivision.com or contact:
|
Dekel Agri-Vision Plc Youval Rasin Shai Kol |
+44 (0) 207 236 1177 |
|
Zeus (Nomad and Broker) James Joyce Darshan Patel John Moran
|
+44 (0) 203 829 5000 |
Notes:
Dekel Agri-Vision Plc is a multi-project, multi-commodity agriculture company focused on West Africa. It has a portfolio of projects in Côte d'Ivoire at various stages of development: a fully operational palm oil project in Ayenouan where fruit produced by local smallholders is processed at the Company's 60,000tpa capacity crude palm oil mill and a cashew processing project in Tiebissou, which is currently ramping up to full commercial production.
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