LONDON, UK: Eight Capital Partners announced the launch of €25 million 4.8% Fixed Rate Five-Year Bonds, which are to be listed on the Vienna Stock Exchange.
Eight Capital Partners is seeking to expand its balance sheet by raising new equity capital and the issue of other securities by the company in stages, in the short-term. The creation of the New Bonds is an important step in the delivery of this strategy.
As it moves forward, other developments may include an equity placing via an open offer to all shareholders. Warrants and / or other securities may also be included in the capital raise.
It is expected that the new Bonds will in part be used to refinance some of the Company’s 7% bond that was announced on 29 July 2019, launched to raise up to €5 million, of which a total of €3.99 million has been issued to date, with a maturity of 26 July 2022 and which is listed on the Vienna Stock Exchange.
To enable the creation of the New Bonds, an initial tranche of €50,000 has been subscribed in cash at par value by Trumar Capital LLC, a substantial shareholder of Eight Capital Partners controlled by ECP’s Chairman Dominic White.
The initial tranche of the New Bonds is to be admitted to trading on the Vienna Stock Exchange on its multilateral trading facility with effect from today, Friday 3 September 2021.
Commenting on the New Bond issue, Eight Capital Partners Chairman, Dominic White, said: “The Company has been successful in creating and utilising debt instruments to raise finance. These instruments are useful to help build scale; it can prove challenging for small companies to raise meaningful sums through equity alone.
This bond issue is the next step towards enlarging the Company’s balance sheet, and it provides better medium-term visibility since our existing listed bonds approach maturity in 2022. Over the coming months, I am expecting ECP to be offering shareholders, historic bondholders and private creditors, the opportunity to subscribe for new ordinary shares or listed debt in the Company.”
Eight Capital Partners plc is an international company whose strategy focuses on owning and working with technology, media, telecoms and financial services businesses, including both privately-owned and listed entities.
It has recently refined its strategy to focus increasingly upon those businesses engaged in “Fintech” operations, from the digitisation of banking services, through to blockchain-backed decentralised finance companies and “crypto banks”.
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