Romanian car rental firm Autonom issues 5-yr EUR 30 mln bonds with 6.14% cupon

The Romanian car rental company Autonom has raised EUR 30 million through a new bond issue to be listed on the Bucharest Stock Exchange. The value of the issue, which was overwritten, is EUR 30 million and has a maturity of 5 years, with a fixed annual coupon of 6.14%.

This is Autonom's third bond issue. The first, worth EUR 20 million, was fully returned this year. The second one marked an important moment for the capital market in Romania, being the first sustainability-linked bond in Romania, attracting over EUR 48 million.

The new bond issue is also linked to the company's sustainability goals, including reducing the average carbon emissions of the operational car fleet by 30% by 2028 and, in the long term, by 55% by 2030, according to the strategy published in 2021 and updated this year.

In addition, it introduced a new indicator related to the "People and community" pillar: the share of female representation in management positions, with an objective of increasing it to 46% in 2030.

"Through this bond issue, we reaffirm our commitment to develop a responsible business oriented towards long-term performance and sustainability. Together with our partners, we continue to take concrete steps in reducing the impact on the environment while simultaneously adding more and more economic value. The size and diversity of the investors present in this financing round confirm our business vision with a positive impact on society," said Dan Ștefan, co-founder of Autonomy, quoted by Economedia.ro.

The company reported in the first half of 2024 operating revenues of almost RON 400 million (EUR 80 million), up 13%, and a net profit of RON 18.8 million, 53% higher compared to the same period of the previous year.

(Photo source: LinkedIn/Marius Stefan)