Impact bonds, a hit

The entire $1.5m bond issue of real estate developer Impact Bucharest has been subscribed, company officials said. The bonds were bought by 69 investors, of which seven legal persons. Almost a quarter of the buyers invested amounts in excess of 100 million ROL. The bond issue is to be listed on the Bucharest Stock Exchange. The face value of one bond is one million ROL, with the loan maturity spanning over two years. Still, the company is entitled to redeem the bonds one year after the issue’s release. According to company chairman Ioan Popp, Impact may launch a bigger bond issue next year. ZF