Senior Secured Corporate Bond
Outlook: No Trend
Action date: 07/27/2022
Rating action: Affirmed


EthiFinance Ratings affirms Bioarag s bond program rating at "BB". The company formalized a € 10M bond program within which it carried out a first issue of € 2M bullet type with a 4-year maturity and quarterly interest linked to the evolution of the Euribor (with a floor of 0%) plus a 4.5% spread (act/365). The bond program will be collateralized through a promise of a mortgage with irrevocable power (cause of contract) on factory, machinery and essential assets.


ISIN: ES0305600001
Date last rating: 07/27/2022
Date first rating: 07/27/2021