“Following the early redemption of the BNET19 corporate bond issue in 2019, we have decided on the early buyback of the BNET22 issue in 2021. Between 2015 and 2018, corporate bonds were the ideal option to finance the accelerated development of Bittnet Group,” said company co-founder Cristian Logofatu, adding the company was now looking to increase profitability by reducing financial expenses with interest.
BNET22 was the group’s second corporate bond issue and started trading in November 2017. The bonds mature in September 2022.
The company said the buyback price of the BNET22 issue is 100% of the nominal value of RON100/bond and the registration date for identifying the bondholders who benefit from the early redemption is May 6. The payment date will be May 13.
The company added the redemption value of the BNET22 issue will include the interest as a coupon fraction calculated for a number of days equal to the interval from the date of payment of the last full coupon (March 15, 2021) until the date of actual payment of the nominal value (May 13).
The bonds will be suspended from trading starting with May 5 and May 4 will be the last trading day.