Zortrax extends the maturity date of bonds and increases their interest rate

Zortrax – the largest Polish manufacturer of 3D printers and one of the two companies listed on the NewConnect stock exchange, decided to postpone the repayment date of bonds worth PLN 3.34 million. Instead of the originally scheduled date of June 6 this year, the company committed itself to redeem the debt securities by the end of the year, ie by December 31.

This solution was achieved thanks to an agreement concluded with all bondholders – in exchange for postponing the repayment date, Zortrax decided to increase the interest rate on the bonds. It currently stands at 14% per annum, which is a significant increase from the original 10%. It is worth recalling that the first issue of these securities took place in December 2021 and its purpose was to refinance older debt.

Zortrax has been using debt securities to finance its operations since 2014. Despite this, these bonds have never been introduced to trading on the Stock Exchange. The reason for this state of affairs are too low values of individual emissions.

Zortrax’s decision to extend the bond repayment date and raise the interest rate is an interesting financial maneuver that allows the company to gain additional time to meet its obligations. However, it should be emphasized that this move also increases the company’s obligations to its bondholders.


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