RO agri business group Agricover lists EUR 40 mln bonds on BVB

Agricover Holding, the main player in the Romanian agribusiness, took the first step on Bucharest Stock Exchange (BVB), where it listed a bond issue worth EUR 40 mln and with a 5-year maturity.

This is the largest corporate bonds issue of a Romanian entrepreneurial company on the Bucharest Stock Exchange (BVB).

"We are delighted with the success of the bond issue carried out by Agricover Holding both because we are talking about the largest bond issue carried out by an entrepreneurial company on BVB, but especially because the money attracted from investors will be directed to support the development of Romanian agriculture. The pandemic showed us that in times of tension and uncertainty, we must rely primarily on our own forces, so it is normal for the capital market to support Romanian companies," said BVB Chairman Radu Hanga.

The bonds issued in January by Agricover Holding pay a yearly coupon of 3.5% (in EUR).

The capital attracted through the bond issue will finance Agricover Credit IFN's loans to Romanian farmers.

Local lenders BCR and BRD managed the bond issue.

(Photo source: Wynnyk/Dreamstime.com)