December 21 (SeeNews) - Romanian holding group Teilor listed two bond issues worth a total 45 million lei ($10.5 million/9.09 million euro) on the Bucharest Stock Exchange, the bourse said on Tuesday.
The bonds are traded on the BVB's alternative segment AeRO, the stock exchange said in a press release.
Part of the capital attracted from investors will be directed to the group's chain of jewelry shops Teilor, for expansion of the jewelry store network across Romania and Europe.
Some 18% of the proceedsl will be allocated to the group's financial lending company Invest Intermed GF IFN, to open new agencies and provide working capital for them, as well as investments that will accelerate the growth of its market share in Romania.
The remaining funds of the intended bond issuance, around 27%, will be directed to Teilor Invest Exchange, a network of exchange offices, and will be primarily used to finance the development of the network across Romania and meet working capital needs.
"Our target is to reach 1 billion lei in sales by 2026 when the bonds that we are listing today on BVB will reach maturity," Teilor Holding founder and board chairman Florin Enache said.
The two private placements, one in lei and the other one in euro, took place in November, with the participation of 139 investors. The company issued 140,035 corporate bonds in lei with a nominal value of 100 lei per bond, five-year maturity and a fixed interest rate of 8.25%.
The euro-denominated corporate bonds have a nominal value of 100 euro per bond, five-year maturity and a fixed interest rate of 5.75%.
Teilor Holding is an entity established in 2021, uniting under one umbrella all businesses of Romanian entrepreneurs Florin Enache with a 93.1% stake and Geanina Enache with 6.9%.
In 2020, the holding company generated a net profit pf 30.6 million lei and a combined turnover of 192.2 million lei.
(1 euro=4.9491 lei)