PragmaGO has successfully concluded the subscription for corporate bonds in EUR, with a reduction rate of 30.13%. The registrations were made by 295 investors for a total amount exceeding 7 million EUR (for an issuance level of 5 million EUR). The interest on the bonds for the first coupon period will be 7.556% (based on 3M EURIBOR, plus a margin of 4.5 p.p. per year). The bonds will be traded on the regulated Catalyst market.
“This is our second issue of EUR-denominated bonds in history and just like the first one – ended with a reduction. We are particularly pleased with this result as the domestic base of individual investors investing in currencies other than the Polish zloty is relatively small. We are starting to build recognition and competence in the foreign currency denominated debt market, which is necessary when starting international expansion,” says Jacek Obrocki, Vice President of the PragmaGO Management Board.
PragmaGO has acquired a majority stake in Telecredit IFN S.A. (Omnicredit), which is a strategic move towards expansion into the Central and Eastern European markets. Omnicredit is a Romanian fintech specializing in digital financial products for the SME sector. The company stands out for its advanced know-how, as well as a proven model for managing operational and credit risk. Omnicredit operates in the same market segment as PragmaGO, which will make it possible to extend the Romanian fintech’s portfolio with embedded finance products, which PragmaGO has successfully placed on the Polish market.
During the first three quarters of 2024, the value of financed receivables in this category has increased to PLN 361 million (+69% y/y). As part of its embedded finance offering, PragmaGO provides deferred business payments (including PragmaPay) and Merchant Cash Advance – an innovative online loan. These services are offered through the company’s partners, including Przelewy24, Polskie ePłatności, Shoper, Tpay, Moya (Anwim S.A.), and imoje.
Source: https://managerplus.pl/pragmago-konczy-zapisy-na-obligacje-z-redukcja-na-poziomie-30-23725
