Bittnet plans to use the money to acquire IT&C company Crescendo.
The money was raised in 21 transactions totaling 97,037 nominative, dematerialized, corporate, nonconvertible, unsecured bonds, with a face value of RON100/bond. The bonds have a five-year maturity and a fixed interest rate of 9% per year, payable semi-annually.
“The company will use the funds raised to finance the IT&C business transfer from Crescendo International S.R.L. and its integration into Bittnet Group structure,” the company said in a statement on the Bucharest Stock Exchange.
Bittnet Systems announce din October it had completed negotiations to acquire Crescendo for RON10.9 million.