Laptaria cu Caimac attracts 3 million EUR through a private bonds’ placement facilitated by BT Capital Partners
Comunicat de presa 2020-11-03
Agroserv Mariuta SA, the company that owns the Laptaria cu Caimac brand, successfully concluded the private bonds’ placement through which it attracted 3 million EUR, with maturity in 2025 and at an interest rate of 5.25%. The bonds will be listed on the Multilateral Trading System on the Bucharest Stock Exchange. Laptaria cu Caimac is the first business with activity in the dairy area, that lists bonds on BVB's AeRO market.
During the private placement, the company offered for sale a number of 20,000 unsecured and non-convertible bonds in shares, with a nominal value of 100 EUR, the offer being addressed to a number of up to 150 investors. The investment was oversubscribed, and the offer was supplemented, attracting a total of 3 million EUR at an interest rate of 5.25%, representing the lowest financing cost obtained in 2020 for similar bond offers. 94 investors, both individuals and institutional investors, subscribed to this investment.
BT Capital Partners (BTCP), the investment banking and capital markets division of Banca Transilvania Financial Group, was an Intermediary and Authorized Consultant of the operation. Starting with 2019, BTCP has brokered seven corporate bond issues and three mergers and acquisitions transactions worth over 300 million EUR.
Adrian Cocan, Project Manager of Laptaria cu Caimac, states: “With this stage in the development of our business we could see a high interest from investors. Since the opening of the private placement, everything went very well and the offer was oversubscribed, and this can only make us happy. This is an important step for the projects we want to carry out in the next period, and the reaction received from the investors makes us think about the possibility of drawing a path to future financing through the capital market."
"We are pleased to have successfully assisted Laptaria cu Caimac in this process of raising capital, which ensures the financing of the company's ambitious development plans. We are also pleased that we have been able to facilitate the investors' access to unique investment opportunities and, despite this challenging period, we continue to contribute to the development of the business environment." states Daniela Secara, CEO of BT Capital Partners.
The next step is to prepare the necessary documents for the admission of the trading bonds on the Multilateral System of the Bucharest Stock Exchange. Laptaria cu Caimac aims that the first trading day to take place within a month, under the MILK25E symbol.
"Agroserv Mariuta is a story of the Romanian entrepreneurship in which two generations meet, thus taking the company to the next level. The successful conclusion of the private placement validates two aspects, the fact that the stock exchange is a viable channel for financing companies and that the “Made in Romania” program of the Bucharest Stock Exchange is useful for the companies that participated in it. We congratulate the entire team behind the Laptaria cu Caimac brand and, at the same time, the intermediary, BT Capital Partners, for the success of the financing round. We expect them to ring the BVB bell as soon as possible when listing the bonds, and later on also for listing their shares", states Radu Hanga, Chairman of the Board of Directors of the Bucharest Stock Exchange.
The funds obtained from the listing of the bonds will be used for the development of the factory, for the extension of the production plant and the construction of a new warehouse. "We already have 14 products launched, which were launched in Germany this month as well, and the customers' appetite is growing, so that the evolution of the factory enters in a new stage. The most urgent investment becomes the expansion of the production plant and of the existing warehouse. We will launch two new categories of products, cheeses and butter, which we hope to have on the shelves next autumn", states Adrian Cocan. In parallel, the Laptaria cu Caimac will carry out two other investments: the construction of a biogas plant, and a system for the recovery and reuse of glass. "We have had a fast pace of development, so we are constantly exploring new funding sources. We want all 3 investment projects to be realized and help us grow. We have already written the project for the bottle washing plant and we have registered it for assessment in order to finance it, and our hopes are that in 2021 we will start the construction of the packaging washing plant. Also, in 2022 we hope to start the construction of the biogas plant and thus, in 2024, the company will be on a straight path, towards a carbon neutral company", added Adrian Cocan. The estimated investments for the next years amount to 16 million EUR.