News: NUF Nufarm Announces Placement Of $97.5 Mln Preference Securities To Sumitomo Chemical Co

Aug 1 (Reuters) - Nufarm Ltd (NUF) :

• ANNOUNCES PLACEMENT OF AUD$97.5M PREFERENCE SECURITIES
• EXPECTS TO REPORT UNDERLYING EARNINGS BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION OF AROUND $420 MILLION FOR 2019
• A QUARTERLY DISTRIBUTION AT A FIXED RATE OF 6% IS PAYABLE TO SUMITOMO FOR FIRST 12 MONTHS AND 10% THEREAFTER.
• SECURITIES MAY BE EXCHANGED FOR NUFARM SHARES AT SUMITOMO'S ELECTION ANY TIME AFTER 24-MONTH AT EXCHANGE PRICE OF AUD$5.85 PER NUFARM SHARE
• EXPECTS TO REPORT ABOUT $50 MILLION OF SIGNIFICANT ITEMS (BEFORE TAX) THAT WILL BE EXCLUDED FROM UNDERLYING EBITDA IN 2019 FY
• EXPECTS TO REPORT NET WORKING CAPITAL OF AROUND $1.6 BILLION FOR YEAR END
• EXPECT NET DEBT TO UNDERLYING EBITDA RATIO TO BE AROUND 3 TIMES FOLLOWING RECEIPT OF PLACEMENT FUNDS FROM SUMITOMO
• ANNOUNCES PLACEMENT OF $97.5 MILLION OF PREFERENCE SECURITIES TO SUMITOMO CHEMICAL COMPANY LIMITED

Source text : http://bit.ly/2LRrTLd

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