December 17, 2014 / 10:51 AM / 3 years ago

BRIEF-Sporting SAD issued 80 mln euros securities

Dec. 17 (Reuters) - Sporting Clube de Portugal Futebol SAD :

* Announced on Tuesday issue of 80 million securities mandatory convertible into company's shares with a term of 12 years

* Subscription price of 1 euro, totaling 80 million euros ($100 million)

* Securities mandatory convertible into company's ordinary class B shares, with gross interest rate of 4 percent

* Issue consists of conversion of company's loans of 24 million euros and 56 million euros, held by Novo Banco SA and Banco Comercial Portugues SA, respectively

* Issue through private subscription concludes restructuring process announced on Nov. 14 and Nov. 21

Source text: bit.ly/13bbDJT

Further company coverage:

$1 = 0.8021 euros Gdynia Newsroom

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