Romanian IT group Bittnet issues more bonds at Bucharest Exchange

Bittnet Systems (BVB: BNET), the first issuer in the IT sector on the main market at the Bucharest Stock Exchange, listed on July 19 a new issue of bonds worth RON 5 mln (EUR 1 mln). The bonds mature in June 2027 and carry a 10% coupon payable on a quarterly basis.

The yield dropped to 9.21% after the first trading day when the bonds' price increased by 3.55%.

It is the company's second issue of bonds this year, and the total value of the bonds available for trading reached over RON 24.5 mln (EUR 5 mln).

Bittnet Systems held a public offering for bonds selling during 15 working days between May 30 and June 21, 2023. The number of investors in the offering increased 10 times compared to the participation in previous private placements.

"It has significantly democratized the access of interested people," said Cristian Logofatu, co-founder of Bittnet Group.

Listed in spring 2015, Bittnet Systems had 12 equity financing rounds worth RON 57 mln and 7 bond financing rounds with a total value of RON 48 mln, of which 4 issues have already been repaid.

The company's capitalization on July 18, 2023, at the end of the trading day, was over RON 173 mln (EUR 35 mln).

(Photo source: Bvb.ro)