ION Seeks to Sell $720 Million Bonds to Repay Debt (2)

A unit of Andrea Pignataro’s fintech conglomerate ION Group seeks to sell $720 million equivalent of bonds in a bid to repay loans and raise fresh funds.

ION Corporates plans to issue senior secured notes maturing in 2029, including a $400 million bond denominated in US dollars and €300 million ($320 million) denominated in euros, according to a statement on Monday. Proceeds will be mostly used to pay down some existing term loans and to boost cash on balance sheet, the company said.

Bloomberg News reported that ION Corporates was looking to sell bonds last week.

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