50 SKY SHADES - World aviation news

Welcome a newcomer Nasdaq Baltic First North bond market - Magnetic MRO

Download: Printable PDF Date: 26 Feb 2019 11:55 categories:
Publisher:
Welcome a newcomer Nasdaq Baltic First North bond market - Magnetic MRO - Finance publisher
Krista Kuznecova
Aircraft: Airplanes

Baltic States investors, means 70 investors from Estonia, Latvia and Lithuania were subscribed for bonds of Magnetic MRO!

As Magnetic MRO carried through a private placement of unsecured bonds and raised EUR 8 million to support the company’s growth plans, including financing a strategic acquisition. The nominal value of one bond is 100 euros, the coupon rate is 8% per annum and paid out quarterly. The bonds will mature in 3 years.

“At the beginning of 2018, Hangxin, an international airplane component maintenance company listed on the Shanghai stock exchange, acquired the shares of Magnetic MRO. This basically means that we have been following the rules of a publicly listed company for almost a year,” said Risto Mäeots, the CEO of Magnetic MRO. “Therefore, listing our shares on the First North market does not mean we have to change our internal processes, but instead allows Baltic investors to invest in our growth story. We were really happy to see that our bonds were subscribed by investors all across the Baltics and in addition to investment funds and banks, also retail investors subscribed for the bonds.”

“Magnetic MRO has gone through a tremendous transformation over the years and – as shown by the titles they’ve won – is now one of the most successful and respected companies in Estonia,” said Kaarel Ots, the CEO of Nasdaq Tallinn. “It is great to see such an ambitious team using First North market to raise capital to fuel its further global expansion. I wish them all the best on their journey as a public company and hope to see them listed on the Main Market in the future.”

Redgate Capital serves as the Certified Adviser for the company on First North. Andrei Zaborski, a partner at Redgate Capital said that Magnetic MRO bond listing on First North is great news for the local and regional investors. “Magnetic MRO is a strong company with an attractive growth story, operating in a very interesting and high value-adding global sector,” said Zaborski. “I would advise investors to keep Magnetic MRO on their radar both in terms of potential additional issues or issues of new instruments. First North market serves as a springboard to reach the bigger markets, and at the same time it is a good place for retail investors to get to know the new companies on the market.”

Image result for Magnetic MRO kick off Bond Trading



Loading comments for Welcome a newcomer Nasdaq Baltic First North bond market - Magnetic MRO...


Recommended

Cathay Pacific acquired Hong Kong Express Airways

Cathay Pacific acquired of Hong Kong Express Airways, which is now its wholly owned subsidiary. However, HK Express will remain a stand-alone low-cost carrier to serve a niche value mar...

New milestone for Emirates Flight Training Academy - Flying solo

The big day had finally arrived, and Mohamed Al Dosari spent the morning in eager anticipation of the moment he would make history. As soon as he strapped himself into the Cirrus, his trained mind too...

Get ready For Launch of Lightweight Pathfinder Prop

Hartzell Propeller is developing and launching the lightweight Pathfinder composite three-blade constant speed propeller, in close cooperation with CubCrafters and Lycoming Engines. CubCrafters i...

Flying cars are coming to GCC

As we've reminded already quite often, the future is already right here, right around the corner. Flying cars are becoming a reality, almost an usual thing to see. Last year PAL-V introduced...