BUCHAREST (Romania), September 15 (SeeNews) - Romanian rail freight carrier Ansett Logistics listed a 500,000 euro ($590,718) bond issue on the multilateral trading system of the Bucharest Stock Exchange (BVB), the bourse said on Wednesday.
The bonds started trading under the ANS26E ticker, the BVB said in a press release.
The company issued and sold in a private placement 5,000 corporate bonds of 100 euro each. During the private placement held in April, 29 investors subscribed.
The bonds have a fixed coupon rate of 8% per annum, payable quarterly. They will mature on April 29, 2026.
"The rail freight transportation is constantly in need of investment through the purchase of wagons to provide efficient logistics solutions for our customers," Ansett Logistics CEO Nicolae Alexandru said.
In 2020, the company booked a net profit of 688,190 lei ($164,336/139,008 euro), lower compared with 1.02 million lei profit in the previous year, while turnover amounted to 41.1 million lei, compared to 44.3 million lei in 2019.
Three-quarters of last year’s turnover came from services provided for CRH Ciment Romania, transportation of clinker, coal, gypsum, coke, slag or mineral aggregates respectively. Grain transportation is also an important category in the revenue structure, particularly as a result of the company's establishment of Vienna-headquartered Ansett Rail GmbH, in 2013.
The division in Austria boosted the grain transport segment, the most profitable component from a margin point of view, initially with a fleet under management of 35 wagons, reaching the management of 400 wagons, depending on customers’ demands.
In the first half of this year, Ansett Logistics transported almost 300,000 tonnes of raw materials and materials, using its own 175 wagons, 82 leased wagons and over 300 wagons in the CFR Marfa network. By the end of this year, the company estimates that it will rent another 70 wagons specialized in cement transport.
Ansett Logistics expects a turnover of 44.3 million lei in full year 2021.
Ansett Logistics was set up in 2005 and has 23 employees.
(1 euro=4.9432 lei)