Romanian non-banking lender lists bonds worth EUR 1.86 mln on Bucharest Stock Exchange

Ocean Credit, a Romanian company that offers non-banking financial products, listed bonds worth EUR 1.86 mln on the Bucharest Stock Exchange.

The bonds are traded on the Multilateral Trading System, under the stock symbol OCIFN26E.

The attracted funds will finance the development strategy by increasing the lending capacity and investments in fintech.

The company also announcedthat it plans a new bond issue worth EUR 400,000 for next year.

Ocean Credit sold, in a private placement held in July 2021, unsecured and non-convertible worth EUR 1.86 mln. The bonds have a nominal value of EUR 100, a 5-yrs maturity and an annual coupon of 8.75%, payable on a quarterly basis. The private placement and the bond listing were managed by local brokerage firm Goldring.

In the first six months of 2021, the total revenues of Ocean Credit were RON 4.68 mln (EUR 0.95 mln), 85% higher than the same period last year. The net profit in H1 2021 was over RON 225,000. For the full year, the company estimates a turnover of RON 9.3 mln and a net profit of RON 1.9 mln.

(Photo: Octav Ganea/ Inquam Photos)