Impact Developer & Contractor, a real estate developer listed on the Bucharest Stock Exchange (BVB) and controlled by local businessman Gheorghe Iaciu, has convened the shareholders on April 28, 2020 to approve a bond issue of maximum EUR 100 million.

The developer is ready to pay a maximum interest rate of 7% per year and plans to raise the total sum in one or more issues or tranches with maturities of between 3.5 and 7 years.

The bonds will be placed in one or more public offers and / or to certain qualified and / or professional investors or in one or more private investments to investors through an offer addressed to a number of less than 150 individual and institutional investors.

Gheorghe Iaciu holds a 56.8% stake in the company, while local investor Adrian Andrici has a 15.4% stake in the company.

The company’s sales increased by 50% in 2019, to EUR 33 mln. Impact currently has a market capitalization of EUR 79 mln (as of March 26).

editor@romania-insider.com

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