The operation was completed before the end of the subscription period (13th July) due to oversubscription. The company raised the amount of RON 4.7 million and sold the maximum number of bonds (47,000).
The bonds have a face value of RON100, a maturity of 5 years and a yearly coupon of 9%, payable quarterly. There were 32 subscriptions by individuals, one legal entity and three investment funds, Bittnet Systems said in a statement.
The money will be used to finance two investment projects: acquiring 55% of Elian Solutions, a local company implementing ERP Microsoft Dynamics solutions, and 25% of Equatorial Gaming, a game-based learning company.