Romania’s Bittnet Systems issues 1.3 mln euro bond

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April 16 (SeeNews) – Romanian IT group Bittnet Systems [BSE:BNET] said on Tuesday it has issued a 6.6 million lei ($1.4 million/1.3 million euro) non-guaranteed, fixed rate, four-year corporate bond [BSE:BNET28A] and intends to list it on the Bucharest Stock Exchange.

During the public offer for the sale held from April 2 to April 15, Bittnet Systems issued 66,249 bonds with a face value of 100 lei each, the company said in a filing to the Bucharest Stock Exchange, BVB.

The bonds have a fixed annual interest rate of 9% calculated on their nominal value and payable quarterly. They will mature in April 2028.

The price at which the transaction will be settled is 96 lei per bond.

Bittnet also said that in the following period it would start working towards obtaining the registration certificate for financial instruments in order to list its new bond issue on the regulated market of the BVB.

Bittnet has three bond issues currently trading on the BVB – one euro-denominated [BSE:BNET26E] and two leu-denominated [BSE:BNET27A], [BSE:BNET28]. Together, they are worth around 25 million lei.

Founded in 2007, Bittnet is an IT solutions and training group comprising sixteen companies. It runs nine commercial brands split across four business lines which include education, digital infrastructure, cyber security, and software. In 2023, the group booked a preliminary consolidated net profit of 609,245 lei on total consolidated revenues of 383.2 million lei.

Bittnet Systems’ shares traded 0.39% higher at 0.256 lei as at 1623 CET on Tuesday on the BVB.

(1 euro=4.9753 lei)

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