The new maturity was set for October 23, 2026 and the annual interest rate will be 15%, significantly higher than the 7% initially approved at the time the bonds were launched.
“(…) informs investors about the extension of the maturity/expiration date until October 23, 2026 for the bonds subscribed in accordance with Board of Directors Resolution no. 1/January 10, 2022 and Resolution no. 5/February 14, 2022. Starting from the date of the extension of the maturity/expiration term of the subscribed bonds, the interest rate will be 15% per year,” Altur said in a report to the Bucharest Stock Exchange.
The bond insurance program was approved by a decision of the Extraordinary General Meeting of Shareholders on April 28, 2021. It allowed issuing bonds up to RON10 million in one or more tranches, with an initial maturity of three years and a fixed annual interest of 7%. A total of 4,000 bonds worth RON4 million were subscribed until January 21,2022.
The proceeds were used for the working capital, mainly for purchasing raw material – aluminum alloys needed in the manufacturing process.
(English version by Loredana Fratila-Cristescu)