“The proceeds from the Bond issue shall be used to finance the current activity of the Company and the new residential projects to be developed in the near future (Iasi – Greenfield Copou, Constanta Boreal Plus Phase 2, Greenfied Teilor Phases 4 & 5)”, the report reads.
The company also says in its report that “it offered for subscription 80 (eighty) Series IMP27 bearer bonds (the “Bonds”), each with a nominal value of EUR 100,000.00 (one hundred thousand euros) and an aggregate nominal value of EUR8,000,000.00 (eight million euros) and the Bonds were allotted to institutional investors – consortium of several investment funds, which assets are managed by CVI Dom Maklerski sp. z o.o. The Polish company under business name CVI Trust sp. z o.o., with its registered seat in Warsaw, Poland, is acting as a security administrator”.
Impact does not mention the interest rate for this financing.
“Final maturity is 48 months from the issuance date. The Bonds shall be mainly secured by a first rank real estate mortgage covering the payment obligations resulting from the issuance of the Bonds established over a plot of land located in Bucharest, exclusively owned by the Company”, the report also shows.
Compania has a market capitalization of RON653 million after its shares have lost 23% so far in 2023 amid deals worth RON5.4 million.