The Portuguese company Vista Alegre Atlantis, VVA, has issued a new €45 million senior secured guaranteed bond due 2024 and a 4.5% fixed annual coupon in MARF, BME’s Fixed Income Market. The Group has a rating of BBB-, stable outlook, granted by Axesor.

Through this bond, Vista Alegre diversifies its funding sources and lengthens the average debt maturity, as such contributing to the sustained growth of its business in the different segments and markets in which operates.

The company was founded in 1824 as Ferreira Pinto e Filhos. At the time it was the first industrial porcelain factory in the country and received the title of Royal Factory five years after its foundation.

Over its almost two-hundred years of history, Vista Alegre has developed an image of quality and has settled in the household equipment market. This position has allowed the company to expand into other sectors as glass, crystal or decoration.

In 2001 Vista Alegre Group merged with Atlantis Group. The resulting company became the leading company in Portugal within its sector and the sixth worldwide. Currently the Group exports to over 60 countries.

In 2009, 63.46% of Vista Alegre was acquired by Grupo Visabeira through one of its investee companies, Cerutil.

As of 2018, Vista Alegre had €99 million of total revenue. The Group has been listed on the Portuguese Stock Exchange since 1987.

Source: BME (see the entire post)