Bonds of Impact worth three million euros are listed today on the BSE

A bond issue by the real estate developer Impact Developer & Contractor (IMP), worth three million euros, is listed today on the Bucharest Stock Exchange (BVB) under the symbol IMP27E, according to an announcement by our capital market operator.

The bonds were sold in February of this year in a public offering through which the company issued a number of 30,000 bonds, with a nominal value of 100 euros. The interest is 9% per year payable semi-annually, the bonds being nominative, unsecured, non-convertible, non-subordinated and maturing on February 28, 2027.

"In the framework of the public offer, investors placed a number of 1,125 purchase orders, and the total number of buyers who received allocation in the framework of the offer is 647," the bond issue prospectus states.

According to the document, the funds obtained will be used for: financing the activities and current costs of the Impact Group and ongoing projects; new real estate development projects; capitalizing on potential commercial opportunities that could imply the need for short-term cash availability.

The company has developed several real estate projects, including the Greenfield and Luxuria residential complexes in Bucharest. For the past year, Impact Developer & Contractor reported revenues of 169.5 million lei, 23% below those of the previous year, while net profit amounted to 34.9 million lei, 59% lower than last year 2022.

Gheorghe Iaciu owns 57.7% of the real estate developer whose stock market valuation is around 550 million lei.