Autonom Services' 30 million euro bonds to be listed on BVB next week

The latest bond issue worth 30 million euros of Autonom Services, a company that offers operational leasing and rent-a-car services, will be listed on January 21 on the Bucharest Stock Exchange (BVB), according to a report by our capital market operator.

The securities will have the stock exchange symbol AUT29E and are correlated with sustainability objectives, part of the strategy developed by Autonom with the previous bond listing, in 2021, the BVB report shows.

The bonds have a unitary nominal value of 1,000 euros and a fixed interest rate of 6.14% per year, with the possibility of adjustment based on a step-up mechanism by 0.3%, under certain conditions. The maturity of the securities is five years, with the maturity date being November 26, 2029.

The bonds were sold through a private placement in the latter part of last year, the issue generating interest from major institutional investors such as commercial banks and international financial institutions, being dedicated exclusively to professional investors and eligible counterparties. The correlation with the sustainability objectives assumed by the company refers to reducing the average carbon emissions of the operational fleet of cars by 30% by 2028 and by 55% by 2030, as well as supporting diversity in the management teams of Autonom Services, by targeting a female representation of 46% by 2030, according to a company press release from November 2024.

Currently, Autonom has a bond issue listed on the BVB worth 48 million euros, issued in 2021 and maturing in 2026, the securities having a fixed interest rate of 4.11% per annum.

For the first half of last year, Autonom Services reported operating income of 378.6 million lei, 19% more than in the first six months of last year, while operating profit was 53.2 million lei, up 24%. The company is owned by brothers Marius and Dan Ştefan.