Business Forum • 18 September, 2024 at 9:12 AM
Romanian construction group IBB Holding will issue euro-denominated bonds and list them on the Bucharest Stock Exchange, following a decision of its shareholders.
The bond issuance will have a maximum value of €10 million, with a maximum maturity of 60 months.
The proceeds from the sale will be used to finance ongoing and new projects and support investments in concrete and asphalt production facilities, along with construction equipment and machinery.
“We took this decision to diversify the group's funding sources, in the context of a plan to expand our operations in the coming years," says Ion Crăciunescu, CEO and Founder of IBB Holding.
The group operates four plants that produce concrete for engineering construction, road concrete, and cement-stabilized aggregates near Bucharest, and an asphalt mixing plant in Pantelimon.