Yorkville Advisors completes 50 million PLN equity facility with Calatrava Capital SA - 11/18/2010
(London/New Jersey/Warsaw, 18 November 2010) Yorkville Advisors, LLC (Yorkville), the US-based alternative investment manager, is pleased to announce that it has entered into a 50 million PLN Standby Equity Distribution Agreement (SEDA) on behalf of one of it’s funds with Warsaw Stock Exchange listed Calatrava Capital SA (CTC: WSE), a dynamically growing Poland-based investment company specializing in IT services and software, energy and fast moving consumer goods (FMCG).
Calatrava Capital SA entered into the SEDA as a means of raising additional capital, as and when required, to increase the scale of its current investment projects. The deal shows Yorkville’s continued growth in Central and Eastern Europe and was advised out of London.
Pioneered ten years ago by Yorkville, a SEDA offers companies a low risk, cost effective way of optimising their capital structure in pursuit of their growth strategy. Pursuant to the terms of the SEDA, Calatrava Capital SA has the discretion, for up to 36 months, to withdraw funds of up to 50 million PLN in tranches in exchange for the issue of new equity.
Pawel Narkiewicz, CEO of Calatrava Capital SA said, “We were attracted to the SEDA due to the flexibility it offers as well as Yorkville’s wide knowledge on funds and financing technology businesses. Calatrava has a clear and ambitious development plan and we anticipate that Yorkville, enabled by its experience and network, will serve as a long-term and strategic partner for our growth. The SEDA allows for an efficient mechanism for Calatrava to issue new shares at any time over the period under the control of management.”
Paul Strzelecki, Managing Director, Yorkville Advisors UK, commented: “This is Yorkville’s second deal in Poland in as many months. We are pleased to be able to apply our flexible propriety financing model to another listed fund in Poland and help this public vehicle fund private Polish enterprises.”
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Yorkville Advisors UK, LLP
Yorkville Advisors UK, LLP is a sub-advisor to the US-based alternative investment manager Yorkville Advisors, LLC.
Founded in January 2001 by Mark Angelo, Yorkville specializes in providing flexible, innovative debt and equity investments and financing in publicly listed companies in a variety of sectors including energy, mining, technology media & telecommunication (TMT), healthcare and shipping.
Yorkville tailors its financings according to each company’s need and offers a mix of debt structures, bridge financings, asset backed loans, equity facilities and, in some cases, equity injections. Yorkville has offices in Jersey City, New Jersey; Jupiter, Florida; Denver, Colorado; London and Hong Kong as well as a joint venture agreement in Milan, Italy.
About Calatrava Capital
Calatrava Capital Group (the Group) is an investment company focused on development of IT solutions for business management, retail and office systems, service for hardware, system, network and application infrastructure. The Group provides software and services to Geographic Information Systems and operates on Global Positioning Systems with its own software and hardware products. Recently the company has carried out investments in energy as well as FMCG sectors.
Calatrava Capital SA performs owner's supervision based on the right resulting from majority share (stock) packages owned in subsidiaries as well as commercial and marketing supervision. Additionally, Calatrava Capital SA remains the owner of the majority of fixed assets that are made available to other companies of the Group on the basis of rent, leasing contracts and usufruct contracts.