BT Capital Partners brokered the listing of the largest corporate bond issue in BVB history
Globalworth Real Estate Investment Limited, one of the most important real estate investment companies focused mainly on the Central and Eastern European market, in partnership with BT Capital Partners - a company of the Banca Transilvania Financial Group, announces the admission to trading on the Bucharest Stock Exchange (BSE) of the corporate bonds issued by the company (Symbol GWI22).
The launching event took place today, July 31st, at the Bucharest Stock Exchange headquarters and participated on behalf of the issuer and its partners: Dimitris Raptis, Deputy CEO and Chief Investment Officer Globalworth, Paul Prodan, President of the Board of Directors of BT Capital Partners, Ludwik Sobolewski, CEO of BVB, as well as clients and representatives of the press.
"The admission of corporate bonds issued by the company to trading on the Bucharest Stock Exchange marks a milestone for Globalworth, for our growth approach and, at the same time, a promise we make regarding our development plans. Our main objective is still to invest, to develop and to identify new growth opportunities on the Romanian market, and trading corporate bonds is a new step we are taking in this direction, aiming at simplifying the structure of our debt and reducing the average cost of debt", said Dimitris Raptis, Deputy CEO and Chief Investment Officer Globalworth.
"We want the admission to trading through the Bucharest Stock Exchange of the corporate bonds issued by Globalworth to be an example for other companies and I trust that the Romanian business environment will begin to look more towards the capital market as a source of financing. BT Capital Partners is very involved to contribute to increasing the degree of financial intermediation in Romania and wants to become a model in this regard", mentioned Paul Prodan, President of the Board of Directors of BT Capital Partners.
"When a company makes a transaction with shares and is listed on the stock exchange it allows us to strengthen the identity of the Romanian capital market. But there is no developed capital market without a market for loan instruments such as bonds. If investors buy bonds, this means that they understand and accept all local risks, reflected in bond interest rates. If investors demand that bonds be placed on the stock market, that means they value a level of liquidity and transparency that contributes to investor safety. Therefore, it is very important that Globalworth bonds, as a result of the global placement, start trading on the Bucharest Stock Exchange. We are proud of this fact that confirms this historical evolution of the Romanian capital market", said Ludwik Sobolewski, CEO of BVB.
The issue of corporate bonds had a total value of 550 million euros and represents the largest issue of its kind in the history of BVB.
GWI22 corporate bonds are traded on the Bucharest Stock Exchange in euro, in nominal values of EUR 100,000, and the settlement will be made in RON. The exchange rate set by the National Bank of Romania (NBR) on the banking day preceding a trading session is taken into account for calculating the value of corporate bonds (expressed in RON) of orders executed on that trading day. This exchange rate is applied throughout the entire trading program of these corporate bonds on that trading day.
Globalworth corporate bonds have also been admitted to trading on the regulated market of the Irish Stock Exchange.