Impact borrows 8.3m euros

Constructions and real estate development company Impact Bucharest will sell a 312bn ROL (8.3 million euros) bond issue to an investment fund. The company will issue bonds by using the private investment method this time, therefore the bonds will no longer be available to the public but to a limited number of private investors. They will not be listed on the capital market. “The bond issue will be bought by an investment fund backed by 20 investors,” Ioan Popp, Impact’s chairman told Ziarul Financiar. He did not care to reveal the name of the fund before the investment was completed. The bond issue will stay open until February 9, but may end sooner if all the bonds are sold by then. It will be underwritten by Alpha Finance, Greek Alpha Bank’s brokerage company. Impact will use the money to begin two new developments. ZF