After discussions with the consulting company E&Y, the CONTEG Group decided to diversify external sources and draw on financing through a bond issue. Conseq Investment Management has successfully completed the process of preparation and subsequent offering of CONTEG Group a.s. bonds.
The first subscription date was April 23, 2021 as part of a non-public offer. Shortly afterwards, however, the issuer received approval of a prospectus from the CNB for public offering. The total subscribed volume of bonds reached CZK 220 million in nominal value. Their maturity is five years and their fixed yield is 5.25% p.a. for investors.
CONTEG Group is a Czech industrial group and one of the leading European manufacturers of IT cabinets, cooling systems, complex solutions for data centers and dispensing boxes. Through its foreign branches, it operates on 3 continents and exports its products to 60 countries around the world. The companies integrated into the CONTEG Group have more than 500 employees.
The issuer will use the funds drawn from the bond issue to finance its development and its future acquisitions. The co-owner and chairman of the board of CONTEG Group, Vít Voláček, further states: “From a small Czech switchboard company, we have become a major international player in the non-IT infrastructure market within 20 years. Historically, our growth has always been associated with innovations and well-thought-out acquisitions in development industries, where we have been able to apply our experience and bring a clear synergy effect to the group. The proof is, for example, the current project of our own independent network of storage and delivery boxes under the OX Point brand, where we offer customers a completely unique use of boxes, from delivery and storage of consignments to payments and communication with authorities. Each time brings its own unique opportunity and development activities have always been the driving force of our company. The bond issue will allow us to finance further acquisitions and implement projects that make economic sense and strengthen our market position. ”