Romanian residential developer wants to raise EUR 100 mln in bond issue
Impact Developer & Contractor, a real estate developer listed on the Bucharest Stock Exchange (BVB) and controlled by local businessman Gheorghe Iaciu, has convened the shareholders on April 28, 2020 to approve a bond issue of maximum EUR…
Romania Insider · Journalist
· Updated · 1 min read
Impact Developer & Contractor, a real estate developer listed on the Bucharest Stock Exchange (BVB) and controlled by local businessman Gheorghe Iaciu, has convened the shareholders on April 28, 2020 to approve a bond issue of maximum EUR 100 million.
The developer is ready to pay a maximum interest rate of 7% per year and plans to raise the total sum in one or more issues or tranches with maturities of between 3.5 and 7 years.
The bonds will be placed in one or more public offers and / or to certain qualified and / or professional investors or in one or more private investments to investors through an offer addressed to a number of less than 150 individual and institutional investors.
Gheorghe Iaciu holds a 56.8% stake in the company, while local investor Adrian Andrici has a 15.4% stake in the company.
The company’s sales increased by 50% in 2019, to EUR 33 mln. Impact currently has a market capitalization of EUR 79 mln (as of March 26).
(Photo source: Wynnyk/Dreamstime.com)
