Agroland Business Systems, a Romanian distribution firm specialized in inputs for agriculture, raised RON 8 million (EUR 1.7 mln) through an offer of corporate bonds carried out between March 3 and 5.

Local brokerage firm Tradeville managed the bond offer.

The bonds issued by Agroland Business Systems have a maturity of 5 years and a fixed coupon rate of 9% per year, payable half-yearly.

The issue was oversubscribed and the issuer decided to close the offer early on the first day when the subscriptions exceeded the value of the offer and also decided to supplement it, in order to be able to offer bonds to all the investors who subscribed. Thus, the total number of bonds subscribed was 80,803, while the total number of single subscribers was 88.

“The funds raised will be used to develop a new store concept, which will meet the demands of our customers and bring innovation to the farm, pet-care, and gardening market segment,” said Horia Cardos, the founder and administrator of Agroland.

Agroland Business System has the largest network of agricultural stores in Romania, composed of both its own stores and stores under franchise. The company is controlled and managed by local entrepreneur Horia Cardos.

editor@romania-insider.com

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