Bit Soft, the company that develops and distributes integrated end-to-end solutions for the hospitality industry, has successfully completed a private bond placement, raising 1.5 million euro, maturing in 2025 with a 5.5% coupon. The bonds will be listed on the Bucharest Stock Exchange’s Multilateral Trading System (MTS). The transaction was arranged by BT Capital Partners, the investment banking and capital markets arm of the Banca Transilvania Financial Group, acting as Intermediary and Authorized Advisor.

Under the private placement, the company offered 15,000 unsecured, non-convertible bonds, with an aggregate nominal value of 1.5 million euro, the offer being addressed to up to 150 investors and to qualified investors. The placement was closed early, with total subscriptions of 2.6 million euro at a 5.5% coupon, one of the lowest funding costs achieved for similar bond offerings. More than 90 investors subscribed, both individuals and legal entities.

“The successful closing of the private bond placement is an important first step on the capital market for Bit Soft, providing the company with the funds needed both to accelerate international expansion and to support the development of its own solutions, which have proved a significant help in restaurants’ reinvention through digitalisation, a trend triggered by the pandemic. We are glad to have had the opportunity to work alongside Bit Soft on this project and we thank them for their trust,” said Daniela Secara, CEO, BT Capital Partners.

“The strategic partnership with BT Capital Partners marks the beginning of a new stage for Bit Soft. We are preparing to expand into new markets, and the capital injection brought by the bond issue gives us the foundation we need to successfully deliver on our medium- and long-term strategy. We are honoured to work with BT Capital Partners and are confident it will be a beneficial partnership,” said Bogdan Stanciu, CEO and founder of Bit Soft.

The next step is to prepare the documentation required for the bonds to be admitted to trading on the Bucharest Stock Exchange’s Multilateral Trading System. Bit Soft aims for the first trading day to take place within a month, and the ticker will be BIT25E.

The proceeds from the bond listing will be used to finance the issuer’s accelerated growth strategy, specifically the acquisition of a group of companies that carry out activities similar to the issuer’s in France and Morocco.

With more than 27 years of experience in the hospitality industry, Bit Soft develops and distributes integrated end-to-end solutions for hotels, restaurants and spa & wellness centres, and is present in 3 markets in the Central and Eastern Europe region: Romania, Bulgaria and Hungary. For the hotel industry, Bit Soft distributes and implements software developed by Oracle and Protel, two of the most important hotel software providers worldwide. For restaurants and cafés, the company offers both Oracle solutions and its own in-house developed solutions, while for spa&wellness centres it offers software developed by TAC, an Austrian company specialised in the spa&wellness industry, for bookings and customer management.

In recent years, BT Capital Partners has supported a number of well-known entrepreneurial companies on their path to the capital market: Clinicile Dentare Dr. Leahu (bonds, 10 million lei, 2019), Vivre Deco (bonds, 3.5 million euro, 2020), Laptaria cu Caimac (bonds, 3 million euro, 2020; shares, 19.4 million lei, 2021), Simtel Team (shares, 13.7 million lei, 2021), SelfPay (bonds, 3 million euro, 2021), and most recently, Bit Soft.

Bit Soft is Romania’s leading software provider for the hospitality industry. Founded in 1994 by Bogdan Stanciu, the company aims to support HoReCa businesses both with complete software products and with the expertise accumulated over more than 27 years of activity. Present in Romania, Bulgaria and Hungary, Bit Soft serves 1,100 restaurants and 570 hotels. Clients include City Grill, KFC Romania, Pizza Hut, Burger King Hungary on the restaurant side, and Accor Hotels, JW Marriott, Ana Hotels and Continental Hotels on the hotel side. www.bit-soft.ro

BT Capital Partners, the investment banking and capital markets division of Banca Transilvania, is Oaklins’ exclusive member in Romania, the leading international alliance of mergers and acquisitions specialists, and the largest retail broker on Romania’s capital market. BT Capital Partners provides advisory services for capital raising via the capital market, brokerage services, mergers and acquisitions advisory, structuring complex financing schemes, market research and strategic management consulting. www.btcapitalpartners.ro