MCI.EuroVentures Fund, of which investment certificates are held by MCI Capital, has issued secured floating rate bonds on the Czech market with the nominal value of CZK 600 million (~EUR 22 million), via its special purpose vehicle.
- 5-year bonds with maturity date April 8, 2021
- Coupon of 6M PRIBOR plus 3.8%, paid semi-annually
- Issue price of 100.224% represents a re-offer yield of 6M PRIBOR plus 3.75%
- The bonds were subscribed by institutional investors
- Ceska sporitelna has acted as sole Arranger and Lead Manager, as well as Security Agent
Issuance of corporate bonds in the Czech Republic closed with a great success. It is the first time that the capital for the purpose of new investments of MCI.EuroVentures Fund was raised outside of Poland.
– The successful process of bond issuing in the Czech Republic is a proof, that MCI is a trustworthy brand. We continue our interest in that form of fundraising, along with active sales of investment certificates as well as acquiring equity from the stock exchange – said Wojciech Marcińczyk, Vice-president of the Board at MCI Capital.
It is the largest bonds’ issue in the history of MCI Capital, and also with the longest, 5-year maturity. During the first interest period, the actual interest rate for the bonds listed on the regulated market of the Prague Stock Exchange is set at 4.16% p.a. (6M PRIBOR plus 3.8%).
– The whole process is an evidence that MCI is a reliable partner for financial institutions in CEE region. From the operational point of view, it allows us to consider more investment opportunities in companies in buy-out stage – Marcińczyk adds.
The new capital can be used for further investments by the MCI.EuroVentures Fund.
– We see the 2016 as a good time for investments and new add-ons to our Fund’s portfolio, since the valuations of many companies have decreased. Particularly, this is true for the Polish market. Because of that, we are happy to have extra funds available for possible acquisitions – said Cezary Smorszczewski, CEO of Private Equity Managers, company managing MCI.EuroVentures Fund. Returns generated by Funds we manage, strengthen our conviction that the strategy we have chosen is the correct one. We want to carry on with investments in companies of digital economy, as evidenced by recent acquisition in Poland of fintech company– Dotpay/Mobiltek – for over EUR 25 M, and ongoing tender offer in order to reach 33% shares of listed data center company – ATM – Smorszczewski explains.