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OMRO IFN corporate bonds will start trading on BVB MTS on April 23rd

4/22/2020

Bucharest Stock Exchange (BVB) informs that on Thursday, April 23rd, will start trading on BVB Multilateral Trading System (MTS) the corporate bonds denominated in euro issued by de OMRO IFN Targu Mures (ticker – OMRO25E and ISIN - RO4R4ZQYFZD7), one of the first microfinance institutions established in Romania.

The characteristics of these bonds are presented in the table below:

Value of the bonds (EUR)

Number of bonds

Face value/ bond

Interest

Issue date

Maturity date

2,000,000

10,000

EUR 200

7.5% p.a., fixed, payable on a half-yearly basis

January 29, 2020

January 29, 2025

 

 

 

 

 

The bonds were bought by 8 professional investors, both individuals and institutional investors, through a private placement.

The private placement was carried out by Goldring and BRK Financial Group (BRK), and the admission to trading was assisted by Goldring, as Authorized Advisor.

The attracted funds by OMRO through the bonds issue will be used to finance the lending activity as well as other current operational expenses of the issuer.

OMRO IFN is one of the first microfinance institutions established in Romania. In 2007, the company was registered in the National Bank of Romania General Register of non-banking financial institutions (IFN), specialized in granting credits for financing agricultural businesses (micro-farms and small farms) and, at the same time, granting of microcredit to those small, medium and micro enterprises (MIMM) that do not qualify for access to banking financial services.

Starting with 2018, the change of the ownership marked a turning point in the evolution of the company, translating OMRO's perspectives and vision towards geographical expansion and through digitized access to a much wider range of potential clients with the objective of reaching the most important independent microfinance platform in Romania.

At the end of 2019, OMRO had a loan portfolio of RON 17.1mn, almost double that of 2018, and 569 active clients (261 new clients).