In what was interpreted in the local financial market as a vote of confidence in the company, Industria Sulfurica SA (Isusa) successfully reissued Notes for a nominal value of 8 million dollars.
This is Series II.3 under the Program for the Issuance of Negotiable Obligations II, within the ambit of the Montevideo Stock Exchange, an operation that was advised by the Bragard Abogados firm.
The company received offers for US$13,530,000 in the retail tranche and for US$5,268,000 in the exchange tranche, which includes investors who already work with the company.
The securities mature in June 2027 and pay an annual interest rate of 5% in dollars, the payment of which will be made semi-annually (June and December of each year).
What happened “is a strong endorsement for the company,” said Jean Jacques Bragard, a partner at Estudio Bragard Abogados.
The experience and specialization in banking and capital markets of Estudio Bragard Abogados is recognized nationally and internationally. This is the result of more than 25 years of links with the sector, providing legal and structuring services for all agents that are part of the financial market.
Isusa is a chemical industry founded in 1947, with formal activities since 1951 in San José. It is dedicated to the elaboration of different formulas of fertilizers, solid and liquid compounds and chemical products such as alumina sulfate and sulfuric acid.
In addition, the company provides complete agronomic advice to determine the right product for the needs of each crop and the characteristics of each soil, offering a wide range of formulas. Isusa has a unique production structure in the country, faithfully following a policy of permanent reinvestment and adapting its technology in a dynamic and sustained manner.
It has plants in Uruguay in Nueva Palmira (Colonia), Agraciada (Soriano), Melo (Cerro Largo) and Ciudad del Plata (San José).
Through Fanaproqui SA, a company founded in 1951 and acquired in 1997, it manufactures and markets fungicides and foliar fertilizers for agriculture, in Colón (Montevideo). The administration and sales offices are located in San José, together with one of the industrial plants, employing more than 300 people in all its plants.
