Samara Asset Group to Stack up Bitcoin with $33 Million Bond
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Publicly-listed German asset management firm Samara Asset Group revealed on Monday its intention to expand its Bitcoin portfolio using proceeds from a €30 million ($32.8 million) bond.
The firm has engaged Pareto Securities as the sole manager to arrange investor meetings for this potential multi-million euro bond to enhance its investment strategy.
According to the announcement, the bond’s proceeds will facilitate “additional limited partnership stakes” and bolster investments in Bitcoin, which the firm identifies as its “primary treasury reserve asset.”
We, at @Samara_AG_, are excited to announce that we have mandated Pareto Securities as Sole Manager to arrange a series of fixed income investor meetings. An up to €30m senior secured Nordic bond (the “Bond”) may follow subject to, inter alia, market conditions.
The proceeds… pic.twitter.com/LUYdVsDrxy
Samara CEO Patrick Lowry emphasized the company’s long-term commitment to holding Bitcoin, stating, “We are excited by the prospect of placing this Bond and look forward to using the proceeds to acquire more Bitcoin and continue to seed the world’s best-emerging managers.”
The bond, set to be issued by Samara Asset Group PLC, will be secured by a newly formed special purpose vehicle (SPV), Samara Asset Holdings Ltd.
This SPV will act as the bond’s guarantor. The bond is expected to be listed on the unregulated Oslo and Frankfurt Stock Exchanges, with a private placement that will have a minimum subscription amount of €100,000.
Lowry explained that the bond proceeds will enhance liquidity
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