Sporting SAD raises 50 million euros in operation with record number of investors

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Sporting’s SAD raised 50 million euros with the bond loan it launched, in an offer that attracted almost 4,250 investors, a new record for the entity led by Frederico Varandas, according to the results released today.

Demand for the “Sporting SAD 2024-2027” bonds, with a term of three years and eight months and an annual rate of 5.75%, exceeded the available offer by 1.33 times, in an operation that included a public subscription offer, along with a debt exchange offer.

“I want to thank the investors for the trust they have placed in us. Many of those who were with us wanted to stay, and many more joined us,” said Francisco Salgado Zenha, director of the ‘leonina’ SAD, during the special session held at Euronext Lisbooa, the Portuguese stock exchange.

In total, 4,242 investors took part in both strands of the operation, with more than half investing between 2,505 euros and 5,000 euros.

The initial amount of 30 million euros of the offer was reached on the second day of the operation (March 12), and after the overall amount was increased to 50 million euros (a move already planned and communicated to the market on March 20), the bond loan was concluded with a total valid demand of 66.4 million euros.

Demand for the subscription offer for new paper reached 41.6 million euros (for the 30 million euros available), while demand for the exchange offer reached 24.8 million euros (for 20 million euros).

The fixed gross annual interest rate of 5.75% offered in this issue is higher than that of the operation carried out in December 2021, called “Sporting SAD 2021-2024”, which offered 5.25%, and which was the subject of the exchange offer proposed by the SAD led by Frederico Varandas.

The minimum subscription amount was 500 shares, corresponding to 2,500 euros, in an operation coordinated by Haitong Bank.

Hervé Hubert
Hervé Hubert
Hervé Hubert is a 55-year-old writer and journalist based in Porto, Portugal. Born in France, he brings a unique blend of French and Portuguese perspectives to his work. Education Hervé studied Journalism and Literature at the University of Lyon in France. After completing his studies, he gained valuable experience working with various French media outlets (Portugal France also). Career He worked for several years as a journalist in France before making the move to Portugal. In Porto, he joined the Portugal Pulse team as a staff writer. Skills Hervé specializes in storytelling, investigative journalism, and cultural commentary. He has a flair for capturing complex issues in a relatable way. Personal Life He currently resides in Porto and enjoys the city's rich culture, from Fado music to Francesinha cuisine. Hervé continues to maintain strong ties to his French heritage, often traveling back to France for family visits and cultural exploration. With his unique background and diverse skill set, Hervé Hubert adds a layered, multicultural lens to every story he covers.

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