- On December 9, QUALITANCE – the international innovation, tech, and Artificial Intelligence company founded and headquartered in Romania, issued a euro-denominated private placement corporate bond offering, with a 5% coupon rate and a 3-year maturity;
- QUALITANCE bonds were in such a high demand that the value of the offer was exceeded from the very first day, with an overwriting of nearly 60% (compared to the final assigned value);
- The company, which attracted EUR 1.5 million in funding, plans to place the investment in international growth;
- This first QUALITANCE bond offering is part of the company’s accelerated growth strategy;
- QUALITANCE is a strategic innovation and technology partner for global companies such as NewsCorp, Ford, Johnson & Johnson.
Bucharest, December 12, 2019 – International innovation, tech and Artificial Intelligence company QUALITANCE successfully completed a corporate bond offering, brokered by Tradeville, totaling EUR 1.5 million in subscriptions. Due to the high interest from investors, the bond offer was overwritten from day one and ended sooner than expected. The company reached its target amount, attracting EUR 1.25 million above the minimum success threshold.
The QUALITANCE bond offering marked a premiere in the private placement of corporate bonds, being the first offer in Romania to be traded by the Bucharest Stock Exchange system in the “Dutch auction” style, aiming to determine the optimum coupon rate. Consequently, the interest rate was set by auction to adjust the interests of both the investor and the issuer in the best way possible.
The subscriptions for the QUALITANCE bonds were made exclusively through Tradeville. The bonds, which have a EUR 500 nominal value and a 3-year maturity, come with a fixed 5% annual interest rate repayable half-yearly. Investors can also opt for early repayment.
“QUALITANCE is the company that together with its clients defines the future of their industries. We thank the investors for putting their trust in us and for understanding that the paradigm that QUALITANCE has created – “Business 5.0” – will generate tremendous value through accelerated growth. We will continue our international expansion, with an increased presence in Europe, while advancing the development of our own technology platforms. Over the next 3 years, we will prioritize investments in the growth and development of our current structure – including our team, our global presence through new entities or even acquisitions, as well as our client portfolio of complex digital transformation projects using Artificial Intelligence and Machine Learning,” stated Radu Constantinescu, QUALITANCE co-founder and managing partner.
“We encourage companies to obtain financing through corporate bonds, and we are overjoyed by every successful placement that we trade. Having supported an innovation-focused company such as QUALITANCE motivates us to continue this path, especially as the bond offering has created such a large interest among investors, emphasizing once again the high potential of bonds as financing instruments,” said Ovidiu Dumitrescu, Tradeville Deputy General Manager.
QUALITANCE will use the financing to continue its international expansion, by growing the team and possibly the number of acquisitions, as well as by increasing its client portfolio. This year the company has opened new subsidiaries in New York and London and has expanded its Sydney office, where it runs digital innovation and transformation projects.
Between 2016 and 2018, QUALITANCE increased its turnover at a 36% year-over-year rate. By the end of 2018, the company had a 36.1% increase in turnover compared to the previous year; in 2017, the company’s turnover was 37.6% higher than in 2016.
QUALITANCE is an international technology and innovation company that creates digital products and businesses for global organizations and startups. QUALITANCE uses experience design, rapid prototyping and emerging technologies such as AI and Machine Learning to create innovative digital products and services and help large organizations step in the hyper-scalable 21st-century digital economy.
QUALITANCE has been recognized by the Financial Times 1000, Deloitte Technology Fast 50 Central Europe and Inc.5000 Europe as one of the fastest-growing technology companies. In 2017, QUALITANCE was awarded Company of the Year by the Employers Association of the Software and Services Industry (ANIS). In 2018, the Bucharest Stock Exchange presented QUALITANCE with the Made in Romania Award for being one of the companies that will contribute to the growth of the national economy.
About S.S.I.F. Tradeville
Tradeville, a distinguished broker with 25 years of experience on the Romanian capital market, offers retail customers easy and fast access to the Romanian Stock Exchange and major international exchanges, through state-of-the-art trading applications across computers, tablets, and smartphones. Tradeville was presented with the “Most Active Retail Broker in 2018” Award by the Bucharest Stock Exchange.