PIM University is borrowing three million to pay its debts

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23.02.2021. / 14:38

BANJA LUKA – The University of Business Engineering and Management (PIM) from Banja Luka plans to borrow on the Banja Luka Stock Exchange by selling bonds worth three million marks. With that money, they will settle the obligations they have on the basis of previously issued bonds, as well as the debt of about 200,000 KM to the Tax Administration of the Republic of Srpska.

Photo: univerzitetpim.com

PIM University offers on the stock exchange mortgage bonds of three million marks, with an interest rate of 4.1 percent, a grace period of two years and a maturity of 13 years. The calculation and payment of principal and interest is planned in equal monthly installments.

“Funds obtained through the second issue of bonds in the amount of 2,500,000 KM, will be used for redemption, ie payment of all obligations arising from the first issue of bonds of the Issuer”, stated from PIM University.

They intend to pay 200,000 KM to the RS Tax Administration for settling tax liabilities and accrued interest, while they will invest 300,000 KM in improving current liquidity and investments.

“In the event that the planned amount of funds for tax debt exceeds the planned amount, it will be settled from funds intended to improve current liquidity and investments.”, is stated in the decision of the Securities Commission on the approval of the bond issue prospectus.

The plan is to register a mortgage on the administrative building of the University.

The University of PIM was approved to issue mortgage bonds through a public offering in January, but the prospectus was changed in the part related to the investment objectives and the manner of using the funds obtained through the issue.

On February 18, 2021, the RS Securities Commission (KHOV) approved the amendment of the single prospectus.

About PIM University

The Faculty of Economics, the Faculty of Law, the Faculty of Computer Science, the Faculty of Philosophy, the Technical Faculty, and the Institute for Research and Development are organized at the University headquarters.

They also have departments in Trebinje (Faculty of Economics and Law), in East Sarajevo (Faculty of Law) and in Brčko District (Faculty of Economics, Faculty of Law, Faculty of Computer Science, Faculty of Philosophy, Technical Faculty, Faculty of Security Sciences, Faculty of Health Sciences).

Revenues in 2019 amounted to 988,043 KM and are higher compared to the previous year when they were 864,383 KM. The largest part of the income was generated from tuition fees, diploma theses and exam fees.

They participate with 2.32 percent in the total number of enrolled students in the 2019/2020 school year. years.

PIM University started operating in 2003 as the Faculty of Business Engineering and Management. In May 2007, it was transformed into PIM University. Ilija Dzombic and Jagoda Mladenovic are listed as owners.

CAPITAL: Svjetlana Šurlan

Tags: bondsUniversity PIM

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