The issue consists of 13,163 euro-denominated bonds, with a 6-year maturity and a face value of EUR500/bond. The bonds were issued at the end of a private placement carried out in December 2020 and assisted by SSIF TradeVille and have a fixed annual interest rate of 6.40%.
The developer plans to use the funds raised for residential projects in 2021 and 2022.
“The capital market continues to be the central axis of our company’s national expansion strategy, due to the conditions of security, certainty and full transparency. The success of this round of financing reconfirms our company’s long history of innovation and trust and motivates us to prepare for a new bond issue for large-scale projects that we will launch in 2021 and 2022,” said Sorin Apostol, CEO of Impact Developer & Contractor.
In 2020, Impact had revenues of EUR42.7 million from the sale of real estate, 29.4% higher than in 2019, its best sales year in the last decade. The company sold a total of 369 apartments (31,191 sqm built area), of which 205 in the Greenfield Baneasa residential complex and 164 in the Luxuria Residence project.
“In the last almost two and a half years we have seen a growing interest in attracting financing through the capital market. Only in the first quarter of this year, we had 11 listings, four of which are shares and seven are corporate bonds and government bonds, which reinforces the fact that the capital market is a viable financing channel for companies wishing to develop. The four recently listed companies have a cumulative capitalization of RON511 million and the bond issues a cumulative value of RON1.4 billion. The numbers show that capital market investors have the money to invest,” said Adrian Tanase, CEO of the Bucharest Stock Exchange.