First bond issue through new initiative for flexible financing solutions for Dutch and Belgian markets
Amsterdam, Brussels – 24 April – EnterNext, the Euronext subsidiary designed to promote and grow the market for SMEs, today welcomed the bond issue for Trefi Finance, an alternative financier of working capital for small and medium-sized enterprises. This is the first bond issue making use of EnterNext’s initiative specifically designed to simplify SMEs’ access to capital and provide a broader investor base for Belgian and Dutch family businesses and entrepreneurs that was launched last week.
The total nominal amount of the bond is EURO 5 million and is part of a larger, EURO 50 million senior secured bond programme. The bond issue is intended to provide more SMEs with capital in an accessible way. Trefi Finance will use the capital raised to purchase receivables of small and medium-sized enterprises, in order to strengthen their cash position. The bond has received a BBB rating from Creditreform Rating Agentur AG. Multi-asset class broker AFS Group served as listing sponsor for the bond issue.
Hein Kop, Director of Sales and Marketing of Trefi Finance said: “This bond issue is the first in a row, to raise capital to improve the financial position of the small and medium-sized enterprises in our country. This is highly important because we must not forget that these SMEs are the backbone of our economy.”
“We are pleased that by means of Trefi Finance's bond listing indirectly many SMEs will be able to benefit from our new EnterNext initiative,” said Maurice van Tilburg, CEO of Euronext Amsterdam. “We are fully committed to support small and midsized companies in their growth and expect more companies to follow Trefi Finance's example.”
“We would like to congratulate Trefi Finance on its successful bond issue,” added Hans Leufkens, Head Client Coverage EnterNext. “More and more companies are looking at the exchange in their search for capital. With the new initiative EnterNext aims to offer a wide range of cost efficient financing solutions for small and midcaps through a public offer or private placement of equity or debt. Trefi’s connection with the financial capital markets opens a further diversification of its financing sources and raises its visibility in the investor community.”
Trefi Finance celebrated the bond issue by having their Fund Manager, Florus van Herpt, sound the gong which denotes the opening of trading.