“During the private placement, there were collected orders reflecting a subscription of 106.283%, the allocation rate will be 94.08%. The destination of the obtained funds consists in ensuring the working capital for the extension of the market-making activity and the diversification of the structured products portfolio, other investment activities”, BRK said in its announcement.
The BRK bonds sold are corporate, unsecured and non-convertible, maturing in five years and carrying an interest rate of 7.6% per year.
The private bond placement was carried out between August 2 and 13, 2021.
BRK Financial Group has a stock market capitalization of RON119 million. BRK shares have gained 332% since the beginning of 2021, amid deals worth RON76 million, per stock market data.