Major Romanian courier company issues EUR 1.5 mln bonds

Nemo Express, one of the largest courier companies in Romania, concluded last week a private bond placement worth EUR 1.5 million.

The bonds have a maturity of three years and pay an annual coupon of 7%. Local brokerage firm Certinvest managed the offer, and the bonds will be listed on the Bucharest Stock Exchange this fall.

"We managed the underwriting, and we will bring the bonds to the Stock Exchange in the fall. In principle, this takes about three months, but now it is also a holiday. My opinion is that it is a very good step. Maybe the issuer will get to know the Bucharest Stock Exchange and also decide to list its shares," said Horia Gustă, general manager of Certinvest, Ziarul Financiar reported.

Some 70-80 qualified investors participated in the private placement. The amount attracted is not high compared to the size of the company, Horia Gustă said.

Nemo Express had revenues of EUR 28.5 mln in 2019, according to public data.

The turnover of the postal and courier services market in Romania could reach RON 6 billion (EUR 1.24 bln) this year, up 15% from an estimated level of RON 5.2 bln (EUR 1.08 bln) in 2019, according to an analysis published by market research firm KeysFin. The net profits on this market registered an increase of 54% compared to 2017 and more than tripled compared to 2009, to almost RON 304 million (EUR 64 mln).

(Photo source: Wynnyk/Dreamstime.com)