Mintos is pleased to announce that we just launched new Fractional Bonds on their platform.
This is reportedly their first Fractional Bonds offer from iCotton, which is “a manufacturing company with products exported all over Europe, operating since 2011.”
In the first 9 months of 2023, iCotton Group reportedly “reached a revenue of more than €50 million, and an EBITDA of almost €8 million.”
iCotton will issue €20 million in private senior secured bonds “with maturity in 3.5 years and a bullet repayment structure, where the principal that is borrowed is paid back at maturity. This issue has an annual coupon rate of 6% + 3M EURIBOR (9.975% for the first calculation period) and the coupon is paid quarterly. iCotton Fractional Bonds on Mintos are linked to the original bonds issue and have the same maturity and interest.”
Supply is limited for these Fractional Bonds. Investment for iCotton Fractional Bonds on Mintos ends 15 December.
Private placement
Private placement is a unique opportunity “for investors on Mintos, as private placement investment is traditionally only open to individual investors with hundreds of thousands of euros to invest. iCotton bonds are exclusive to Mintos in the form of Fractional Bonds, starting at just €50.”
This is their first Fractional Bonds offer “linked to a major manufacturing company. This offer further allows investors to diversify their portfolio, as iCotton is a completely new industry to investors on Mintos.”
iCotton: a sustainable manufacturing company
iCotton was established in Latvia in 2011 and is “a part of the iCotton Group of companies. iCotton Group manufactures hygiene and cosmetic products and is the leading producer of hygiene products in Poland and the Baltic States, emphasizing sustainability in its brand. In 2023, iCotton solidified its commitment to sustainability by ensuring that 100% of the energy consumed is produced with power from renewable sources.”
Coupon rate and coupon payment frequency: The high-yield bond “offers a coupon rate of 6% + 3M EURIBOR (9.975% for the first calculation period) with quarterly payments.”
The maturity date is set for 3.5 years.
Private offering details: iCotton is offering “up to €20 million in senior secured bonds, only being offered to investors on Mintos as Fractional Bonds, rather than publicly on the open market.”
Investors who wish to cash out early may “do so on the Mintos Secondary Market.”
Security for the iCotton bond, “to which Mintos iCotton Fractional Bonds are linked, consists of the following: mortgage on real estate in Poland and Latvia, a commercial pledge on fixed assets in Poland and Latvia, a commercial pledge on trademarks, and a commercial pledge on the shares of SIA iCotton.1 iCotton also has a corporate guarantee from its subsidiary Harper Hygienics S.A. (Poland).”
