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Eroski today starts the period for taking out an option on its contributions, with a yield of 6.75%
The purpose of the "Eroski Contributions" is to raise 225 million euros to back the company’s investment plan and create employment, as contemplated by the Strategic Plan 2005-2008. Investors can take out an option, once the Information Booklet has been registered, at the following banks and savings banks: BBVA, La Caixa, Caja Laboral, Grupo Banco Popular, Caja Vital, BBK, Kutxa and Banco de Sabadell.
"Eroski Contributions", which will be quoted on the AIAF fixed income market, ensure a yield for investors’ savings. So, taking as an example the actual one-year Euribor, if on 1 February 2008 it were 4.25%, adding the additional 2.50%, would give a total of 6.75%. If the market rates go up or down, so will the one-year Euribor, always ensuring a positive difference in terms of yield of 2.5% over this market indicator. To date, more than 16,000 people have invested 360 million euros in the earlier issues.
The holders of "Eroski Contributions", the successive issues of which date back to July 2002 for the first and 2004 for the last, received on 31 January 2007 the interest for 2006. The total amount came to 21.20 million euros, which was put into the holders’ accounts, once the Eroski Group’s financial year had come to an end.
In all this time the "EROSKI Contributions" have maintained a stable price, as reflected by the AIAF fixed income market data, -almost always at or over 100%-, which indicates that the demand for this product has been in excess of the supply. Moreover, it has been quoted regularly, as operations have been carried out on more than 90% of working days.
The Eroski Group recently took over Caprabo, in an operation which consolidates it as one of the reference groups in Spanish retailing, with a chain of 2,348 stores, more than 47,000 workers and a turnover in excess of 8,600 million euros.
http://www.eroski.es