The securities are non-guaranteed and non-convertible, they have a 5-year maturity, maturing on November 12, 2024, and a fixed interest of 4.45% a year payable on an annual basis. The issue includes 20,000 bonds, with a face value of EUR1,000, which means a total value of EUR20 million.
By achieving the bonds issue, one of the specific objectives of Autonom Services is to increase the average maturity of the attracted financing, so that, given the 5-year maturity of the bonds, the average maturity of the attracted financing increases substantially, coordinated with the average duration of 4 years of operational leasing contracts, the main category of services provided.
Other objectives are to ensure the financing of the organic growth of the operational leasing business and rent-a-car as well as the acquisition of other companies.
The bonds issue was brokered by BRD-Groupe Societe Generale and BT Capital Partners. The bonds were sold through private placement in November 2019.
Autonom Services started its activity in 2006 and currently has over 500 employees, a fleet of 9,000 cars, more than 40 agencies in over 30 cities in Romania, as well as in Hungary (2 agencies) and Serbia (1 agency). Entrepreneurs Marius and Dan Stefan are the two shareholders of Autonom Services.