Asknet Solutions issues a bond with a volume of 9.0 million euros. The paper bears interest of 6.0 percent annually, the interest is paid out every six months. The bond has a term of three years.
Private investors cannot subscribe to the asknet bond. 1.0 million euros will be placed with institutional investors as part of a private placement. The other 8.0 million euros will go to the creditors of a bond due in April 2021. They accepted a corresponding exchange offer from asknet and completely exchanged the bond. The 2021 bond had a volume of 8.0 million euros and had an interest rate of 10.0 percent. The new bond will initially be listed on the stock exchange.
The change will reduce the annual interest rate from 0.8 million euros to 0.54 million euros.
In the coming year asknet, formerly operating as Nexway, plans to make an acquisition. This could be in education or e-commerce. The aim of the acquisition is to improve the operating cash flow so that the bond can be repaid in 2023.
Asknet will present the figures for the first half of the year on October 28th.