50 SKY SHADES - World aviation news

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

Download: Printable PDF Date: 26 Feb 2019 12:55 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

Pleasure to meet - new look of Cambridge City Airport

Cambridge City Airport has unveiled its contemporary new branding and website showcasing all of the features that make itone of the UK’s most well equipped regional airports. The website is p...

SWISS to create over 300 new jobs

SWISS will continue to create jobs in 2019 and 2020, and will be recruiting some 700 new personnel between now and the end of next March. The two further Boeing 777-300ERs which are set to join the SW...

Australia got new Textron Aviation parts facility

New Textron Aviation aircraft parts warehouse is opened in Australia!  This allows to assure the support of business jets, turboprops and piston aircraft fleet. The parts warehouse...

First airline obtaining a full scope maintenance capability for Airbus A220-300 type - airBaltic

Congratulations - airBaltic became the first airline obtaining a full scope maintenance capability for Airbus A220-300 type!  Latvian airline airBaltic has successfully pass...