Cresud S.A.C.I.F. Releases Critical 6-K Report on January 2025 Payment Obligations
Key Information Extracted from the SEC 6-K Filing:
- Document Type and Purpose:
- This is a Form 6-K filing, which serves as a report of a foreign issuer to the SEC, specifically related to Cresud S.A.C.I.F. and A.
- Company Identification:
- Full Name: Cresud Sociedad Anónima, Comercial, Inmobiliaria, Financiera y Agropecuaria
- Translation: Cresud Inc. (the English name)
- Jurisdiction: Republic of Argentina
- Address: Carlos Della Paolera 261, Buenos Aires, Argentina
- Financial Reporting Period:
- The report pertains to activities for January 2025.
- Payment Notice Summary:
- The notice relates to the Series XLIII Variable Rate Notes issued by the company.
- Principal Amount of Notes: ARS 19,886,023,585 (due in 2025).
- The fourth installment of interests and capital amortization will start on January 17, 2025.
- Payment Details:
- Payment Agent: Caja de Valores S.A.
- Effective Payment Date: January 17, 2025
- Installment Number: Fourth
- Payment Period: From October 17, 2024, to January 17, 2025
- Concept of Payment: 100% Interest and 100% Capital
- Financial Metrics:
- Outstanding Capital: ARS 19,886,023,585
- Annual Nominal Interest Rate: 36.1594%
- Total Interest Payment: ARS 1,812,442,045.81
- Total Capital Payment: ARS 19,886,023,585
- Payment Recipients:
- Interest and capital will be paid to noteholders registered as of January 16, 2025.
Insights:
- The company is actively managing its debt obligations with a significant payment due in January 2025.
- The high nominal interest rate indicates a potentially elevated cost of borrowing, reflective of the economic environment in Argentina.
- The details provided suggest a structured approach to servicing debt, which may enhance investor confidence in the company's financial management.
This filing is crucial for stakeholders, including investors and analysts, to understand Cresud's ongoing financial commitments and the implications for future cash flows.