The EUR 2.1 million bond issue launched by Romanian independent developer Qualis Properties, under a private placement in January, started trading on the Bucharest Stock Exchange (BVB) on Friday, April 9.

The bonds, holding a 9% coupon, traded on the first day at prices slightly above the nominal value closing at 3.9% above the face value - the equivalent of a 4.9% yield implicitly seen as sufficient for the investors.

The bonds are denominated in euro, have a nominal value of EUR 100, and a 3-year maturity.

The company is in the process of purchasing (pre-contract phase - 75% advance paid) a plot of land with an area of approximately 30,000 sqm in Brasov's Civic Center area to develop a housing complex for customers with above-average incomes. The project's market value is estimated at over EUR 60 mln, Bursa.ro reported.

At the same time, the company's strategy aims to expand the activity in the area of individual houses in the metropolitan area of Brasov, covering the need of residents for larger homes, with their own yard and modern facilities.

The company also targets the industrial sector, in this sense acquiring in July 2020 a land of 39,150 sqm in the urban area of Brasov, Triaj neighborhood, where it intends to develop warehouses of approximately 20,000 sqm for rental, in stages, depending on demand.

andrei@romania-insider.com

(Photo source: Facebook/Bursa de Valori Bucuresti)