Bittnet Systems, the first IT company listed on the Regulated Market of the Bucharest Stock Exchange (BVB), is listing a new issue of bonds on Friday, February 2, 2024, worth 10 million RON.

The newly issued Bittnet instruments will be traded on the Regulated Market of the BVB under the symbol BNET28. Apart from today’s bond issue, Bittnet has a further two bond issues listed with the BVB, denominated in EUR and the national currency (symbols: BNET26E and BNET27A). The three bond issues are worth a cumulated 25 million RON.

The bond issue was developed following a public sale offer from 27 November to 12 December 2023. Bittnet Systems issued 100,000 corporate, non-guaranteed bonds, denominated in lei, at nominal value 100 lei, 4 years 6-month maturity and due date 15 June 2028. Like the mechanism of the previous offer, BNET27A, for bond offer BNET28 the investors were able to subscribe, in the price range, between 94 and 106 lei, similar to the price discovery mechanism of share offers, and the Issuer decided to close the offer at a price equal to its nominal value.

The interest rate is fixed at 9.6% per annum, payable quarterly through the Central Depository. The funds will be used to cover the general funding needs of the group.

“Considering the significant interest in this shown by the investors who subscribed to it 180%, we now plan to continue our series of bonds under the same mechanism. Therefore, subject of obtaining the necessary approvals specific to public offers, we aim to launch a further bond issue in the first quarter of 2024, under similar conditions to the one we are launching today”, stated Mihai Logofatu, CEO Bittnet.

The bond issue listed on the Bucharest Stock Exchange today was realised with the help of BRK Financial Group.