Business Forum • 25 November, 2024 at 12:57 PM
Autonom Services has successfully completed its third bond issuance in a private placement of EUR 30 million. The bonds have maturity of 5 years, with a coupon of 6.14% payable annually, and are to be listed on the regulated market administered by the Bucharest Stock Exchange.
"With this bond issue, we are reaffirming our commitment to develop a responsible, performance-oriented and sustainable business over the long term. Together with our partners at BRD, we have once again come to the capital market with a product that is attractive to investors concerned by both investment returns and the societal impact of these investments. The caliber and diversity of the investors present in this financing round confirms our vision of a healthy and inclusive business," said Dan Stefan Stefan, co-shareholder and founder of Autonom International Group, of which Autonom Services SA is part.
The bond issue has generated interest from major institutional investors such as commercial banks and international financial institutions (IFIs) and is exclusively dedicated to professional investors and eligible counterparties. The new bond issue is in line with the company's sustainability objectives. These relate to reducing the average carbon emissions of the operational fleet of cars by 30% by 2028 and 55% by 2030, as well as supporting diversity in Autonom Services' management teams by targeting a 46% female representation by 2030.
The success of the issue demonstrates the continued high level of interest from local and international investors for alternative investment alternatives in quality securities listed on the Bucharest stock exchange. The private placement was brokered by BRD Groupe Société Générale, as Sole Transaction Coordinator, and BT Capital Partners - the investment banking and capital markets entity of the Banca Transilvania Financial Group, as Manager.
"We are delighted to have had the opportunity to work with Marius and Dan's team once again on an important new bond issue of Autonom Services S.A. Its success reinforces our confidence that more and more corporate bond issues of leading Romanian entrepreneurial companies will be launched on the BVB", said Irina Neacșu, Executive Director of Corporate Finance at BRD Groupe Société Générale.
Legal assistance was provided by the law firm RTPR Allen & Overy.
Autonom Services S.A. has consolidated over the last few years its position as a strategic provider of mobility infrastructure in Romania, being the most important independent player with Romanian capital on the Romanian car operational leasing and rent-a-car markets. The company has a national network of 52 agencies located in 38 cities in Romania.
BRD Groupe Société Générale operates a network of 388 units. The bank's total assets at the end of September 2024 amounted to RON 84 billion.