Agroland stores in Romania launch RON 7 mln bond
<p>Romanian retail, agriculture, and food business group Agroland Business System, which operates the largest network of agricultural stores in Romania, closed a private placement bond offering brokered by TradeVille in which it raised RON 6.92 mln (EUR 1.4 mln) with a 4-year maturity, according to a report published at the Bucharest Stock Exchange.</p>

<p>The bond was issued with a coupon and a yield of 9.75% per year, the coupon payable semiannually.&nbsp;</p>

<p>The bonds will be admitted to trading on the BVB's multilateral trading system.</p>

<p>Agroland Business System has a capitalization of RON 127.8 mln and is 68.3% controlled by Horia Cardoș, the founder of the company. Its shares rose by 10.8% y/y, and has not distributed dividends out of last year's profit.</p>

<p><em>iulian@romania-insider.com</em></p>

<p><em>(Photo source: the company)</em></p>