Bonds will be listed on the Multilateral Trading System of the Bucharest Stock Exchange and the funds raised will be used to fund the company’s development, especially for the acquisition of a group of companies engrossed in a similar activity in France and Morocco.
Bit Soft, established in 1994 by Bogdan Stanciu, is the first software business intended for the hospitality industry, which lists bonds on the alternative trading system AeRO of the Bucharest Stock Exchange.
The operation was brokered by BT Capital Partners, the investment banking and capital markets division of Grupul Financiar Banca Transilvania, as Intermediary and Licensed Advisor.
Within the private placement, the company put up for sale 15,000 bonds non-guaranteed and non-convertible into shares, with a total nominal value of EUR1.5 million, with Offering targeting up to 150 investors and qualified investors.
The private placement was closed early, with subscriptions totaling EUR2.6 million, at an interest rate of 5.5%, which represents one of the lowest financing costs obtained at similar bond offerings. The private bond placement was subscribed to by over 90 investors, both natural persons and legal entities.
With an experience of over 27 years in the hospitality industry, Bit Soft develops and distributes integrated end-to-end solutions for hotels, restaurants and spa & wellness centers, being present on three markets in the region of Central and Eastern Europe: Romania, Bulgaria and Hungary.
Over the last years, BT Capital Partners has assisted a series of entrepreneurial businesses throughout their stock market listing process, among which, Dr. Leahu dental clinic chain (bonds, RON10 million, in, 2019), Vivre Deco (bonds, EUR3.5 million, in 2020), Laptaria cu Caimac (bonds, EUR3 million, in 2020, and shares, RON19.4 million, in 2021), Simtel Team (shares, RON13.7 million, in 2021), SelfPay (bonds, EUR3 million, in 2021), and the most recent, Bit Soft.