Romanian real estate developer Impact launches EUR 3 mln bond issue

Real estate developer Impact Developer & Contractor (BVB: IMP) will carry out, between February 12 and 23, a public offer for the sale of bonds denominated in euros with a total value of up to EUR 3 million and a fixed coupon to be set in the range of 9%-10%, according to a company report.

The nominal value of a bond is EUR 100, and the interest will be paid semi-annually, Bursa.ro reported. The bonds are redeemable, in full but not partially, at the issuer's initiative, starting with the second year of the bonds' life.

The issuer intends to float the bonds at the Bucharest Exchange.

The main shareholder of Impact is local businessman Gheorghe Iaciu (57.7%). The company's market capitalization is around RON 600 million (EUR 120 million).

For the first nine months of last year, Impact reported RON 107 million (+32% y/y) revenues while its net profit more than quadrupled y/y to RON 63.8 million.

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