May 10 (SeeNews) - Romanian microcreditor OMRO IFN listed a 10 million lei ($2.12 million/ 2.02 million euro) corporate bond issue on the Bucharest Stock Exchange under the OMRO26 ticker, the company announced on Tuesday.
The bonds' nominal value is of 100 lei, the date of maturity is set to February 1 2027, while the interest rate is 9.5%, the bourse said in a press release.
The funds raised through the bond issue will finance OMRO’s lending activity, along with the development of systems necessary to electronic financial activity.
"The financing obtained, together with the support of strategic partners both international, such as the European Investment Fund and the European Bank for Reconstruction and Development, as well as local ones, contributes through OMRO IFN to the development of Romanian small businesses environment," OMRO IFN Chief Financial Officer Georgiana Andrei said.
OMRO had previously carried out an offer of bonds between December 8 2021 and January 28 2022, which was addressed exclusively to qualified investors. As part of the offer, 100,000 non-convertible, unsecured and subordinated bonds were subscribed at a price of 99.5 lei per bond.
Founded in 1994, OMRO is a lending institution which addresses SMEs. In 2020, OMRO launched digital microfinance platform Filbo.
At the end of 2021, OMRO had a loan portfolio of 40.7 million lei, up 66% year-on-year. Some 31% of loans were granted to agricultural businesses, 17% to the services sector, 14% to transportation companies, while another 20% of loans were granted to trade businesses.
In 2021, OMRO booked a total revenue of 13.4 million lei, compared to 6.7 million lei in the previous year.
(1 euro = 4.9457 Romanian lei)