The unsecured convertible bonds have a nominal value of RON2.5 and will yield 7% a year, the company said in a statement.
The conversion price will be made based on the company’s net assets at the time of the conversion. The conversion price cannot be lower than RON2.5 a share.
Impact shareholders will have preferential rights over the bonds for a period of 31 days. After that period, the remaining bonds will be offered to investors.
The bonds will be listed on the Bucharest Stock Exchange, Impact said.
Impact Developer&Contractor is 41.88%-owned by Romanian entrepreneur Gheorghe Iaciu.
The company reported a loss of RON20.4 million in the first nine months of 2013, 25% wider on the year. Sales rose 7% to RON22 million.
At around 12:20 pm, Impact’s shares traded up 13.9% at RON0.49 in Bucharest, amid a slightly declining market. (EUR1=RON4.4567)