PragmaGO successfully completed their offer of 3-year* secured bonds, raising the planned amount of PLN 30 million. The offer attracted 1,341 investors, with an oversubscription cutback of 62%.
The offering took place from 19th to 30th August 2024, and the bonds will be listed on the regulated Catalyst GPW market. The bonds are secured by PragmaGO’s current portfolio of receivables and inflow of the company’s finances. The bond’s interest rate is variable (based on 3M WIBOR increased by a margin of 3.50%) and will be 9.35% in the initial interest period.
“After almost two years, we have successfully returned to the market with the offer of secured bonds. We offered the lowest margin in the company’s history, and yet demand almost tripled the offer value. This is a clear sign that our actions and business model are viewed positively and have strong investor trust. For more than 14 years, we have been consistently building our position in the corporate bond market. PragmaGO’s history in the capital market confirms our predictability, and our financial results – dynamic development,” says Jacek Obrocki, Vice President of the Management Board of PragmaGO.
In the first half of 2024, PragmaGO provided financing of PLN 1.15 billion, an increase of 25% compared to the same period the previous year. The company achieved high growth dynamics in both embedded finance products for businesses (PLN 305 million, +49% y/y) and factoring PLN 924 million (+16% y/y). In 2024, PragmaGO entered into cooperation, among others, with key players in the payments market – Przelewy24 and Tpay. PragmaGO’s strategic investor is Enterprise Investors.
Source: https://managerplus.pl/pragmago-z-sukcesem-konczy-oferte-obligacji-zabezpieczonych-z-redukcja-zapisow-na-poziomie-62-92824
