The national laboratory Savant revamped its name. The company that was founded by Mauro Bono now changed its name to “Savant” in a strategic reduction associated with simplicity.
The national laboratory Savant revamped its name. The company that was founded by Mauro Bono now changed its name to “Savant” in a strategic reduction associated with simplicity.
However, Savant Pharm will remain as its corporate name.
This repositioning is simultaneous with the issuance of the corporate bonds Series I by $30 million with maturity date in September 2016 within the framework of the creation of a program of unsecured non-convertible corporate bonds for a total of up to $200 million (US$ 32 million).
The issuance took place last December 5 and the demand outstripped the supply. Therefore, Savant closed this new issuance of corporate bonds amounting to $36.6 million with a Badlar interest rate of +5.25%.
The placement agents were BANCOR—Banco de Córdoba—, Raymond James, and Equity Sociedad de Bolsa.
Mauro Bono, president of Savant, emphasized that “the funds raised by this issuance consolidate the company financially so as to support the projected growth for the years to come which will be approximately 50% in 2014.”
This announcement mainly entailed the exit from the SME program—under which its first placements were made in 2011—and the inclusion in the General Program.
The company made its debut in the Argentine capital market in 2008 when it first issued corporate bonds by US$1 million.
US$1 = $6.24
