Bittnet obtains EUR 930,000 from private placement of corporate bonds

Newsroom 19/07/2016 | 16:20

Romanian IT company Bittnet has obtained subscriptions worth EUR 930,000 from 40 investors following a private placement of corporate bonds in partnership with BRK Financial Group between July 4-15.

The bond placement took place after the decision taken by the general meeting of the company’s shareholders (AGA) on April 28. According to AGA, the next step in Bittnet’s development is the listing of bond issues on the AeRO market, where Bitnett has been active since April 2015.

“This new success obtained from using mechanisms of the capital market, thanks to which we’ve got investments of almost RON 4.2 million, validates again our decision to become a public company. I am happy that, after over 150 persons have decided to join our projects as shareholders during the listing process, now 40 investors have shown trust in our development plans for the next three years,” said Cristian Logofatu, chief financial officer and co-founder of Bittnet.

The Bittnet bonds have a maturity of three years (until July 2019) and an annual 9 percent coupon that can be paid every trimester. The sums obtained will be used in financing current activities in the development plans for the company.

Andreea Dulgheru

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