Midas Seeks Approval for Up to $10 Million in Overseas Debt
The securities firm's board approved a potential overseas debt issue, and Midas applied to SPK on the same day for an issuance ceiling.
Key takeaways
- Midas approved a potential overseas debt issue capped at $10 million.
- The company applied to SPK on October 9; the filing does not report an approval or completed sale.
Midas Menkul Değerler approved a plan to issue up to $10 million in debt instruments overseas, according to a KAP filing. The company said its board made the decision on October 9 and applied to SPK that day.
The plan allows for one or more issues, with different maturities. The instruments could be denominated in US dollars or other foreign currencies set for the relevant issue, and would not be publicly offered or would be issued under applicable foreign market rules.
If issued, the instruments would mean borrowing rather than selling new shares. The filing does not specify how the funds would be used, or say that SPK has approved the application or that any debt has been issued.
This article was produced with the help of AI technology. Source: Yahoo Finance
