RO independent developer lists EUR 2.1 mln bonds on Bucharest Stock Exchange

The EUR 2.1 million bond issue launched by Romanian independent developer Qualis Properties, under a private placement in January, will start trading on the Bucharest Stock Exchange (BVB) on Friday, April 9.

Qualis Properties issued the bonds, with a 9% yearly coupon attached, to purchase a EUR 5.1 mln plot of land and develop a mixed-use project with 700 luxury apartments and 13,000 sqm of commercial spaces.

The developer is active in the residential segment in Brasov.

The bonds have a nominal value of EUR 100, and they have a 3-year maturity.

Qualis Properties, controlled by local entrepreneur Catalin Dumitru Mandru (95%), has a share capital of RON 90,000 (under EUR 20,000).

The developer has investment projects worth EUR 10 million, including the purchase of land for residential properties.

It started its first residential project (Qualis I) in 2017, with 170 housing units delivered between 2018 and 2020, then decided to expand the complex with 276 apartments and 1,000 sqm of commercial space in the coming years. It has 2.7 hectares of land for this, and the project will be fully completed by 2023. The market value of the entire project is estimated at EUR 30 mln.

(Photo source: Facebook/Qualis Brasov)