There was an error retrieving data. Please try again later.

Real estate developer Impact raised €8 mln through a bond issue

Autor: Financial Market
< 1 min

Impact Developer & Contractor (BVB: IMP), one of the largest real estate developers on the local market, has announced that it has attracted 8 million euros from investors through a bond issue aimed at achieving the objectives assumed in the medium-term development strategy.

Thus, the company offered for subscription 80 (eighty) bonds, each with a nominal value of 100,000.00 EUR and a total nominal value of 8,000,000.00 EUR to institutional investors – a consortium formed by several investment funds, whose assets are managed by CVI Dom Maklerski sp. z o.o.

Polish company named CVI Trust sp. z o.o., with its headquarters in Warsaw, Poland, acts as a securities administrator.

According to the prospectus, the revenues from the bond issue will be used to finance the company’s current activity and new residential projects to be developed in the near future (Iasi – Greenfield Copou, Constanta Boreal Plus Phase 2, Greenfield Teilor Phases 4 & 5).

The final maturity is 48 months from the issue date.

The bonds will primarily be guaranteed with a first-ranking mortgage on a land located in Bucharest, exclusively owned by the company.

In the following period, we intend to launch two large-scale sustainable projects: ARIA VERDI from Bd. Barbu Văcărescu, Bucharest – which will include over 850 premium homes, shopping galleries, kindergarten, green spaces, and community services, with an estimated market value of over 350 million euros, as well as GREENFIELD Copou from Iasi – one of the largest sustainable residential complexes in the Moldova area, which will include 1,062 apartments, a community center with a kindergarten, shopping galleries, gym & wellness center, restaurant, over 15,000 sqm of green spaces, bike lanes, and charging stations for electric vehicles – a project with an estimated market value of 175 million euros,‘ stated Constantin Sebeșanu, CEO IMPACT.