In the public offering of “Grenardi Group” bonds, the demand exceeded the supply by three quarters

“Grenardi Group” bonds have a maturity of three years. The fixed interest rate is 10%. Settlement of the bonds will take place on April 19, 2024. Bondholders will receive coupon payments (interest) once a month, the first coupon payment will be made on May 31, 2024.

The organizer of the bond issue is JSC “Signet Bank”, while legal advice is provided by the law firm “Eversheds Sutherland Bitāns”.

It has already been reported that “Grenardi Group” plans to raise up to 12 million euros with the bond issue. In general, it is planned to raise up to 17 million euros with the following bond issues.

The funds raised in the bond issue are intended to be used for the refinancing of the company’s existing bonds, as well as for further financing of growth – expansion of the store network and assortment and financing of acquisition transactions.

Also, the bonds will be secured by the assets of “Grenardi Group” subsidiaries, which mainly consist of highly liquid gold jewelry.

The organizer of the bond issue is “Signet Bank”, while legal advice is provided by the law firm “Eversheds Sutherland Bitāns”.

There are currently 82 group stores in the Baltic States, 11 of which will be opened in 2023. Of them, 75 are “Given” and seven “Grenardi” brand stores.

According to “Firmas.lv” data, the consolidated turnover of “Grenardi Group” in 2022 was 12.837 million euros, while the profit of the group was 13,478 euros.

“Grenardi Group” was registered in 2022, and its share capital is 7,200,001 euros. The largest owners of the company are SIA “AS Capital” (45%), owned by Ainārs Spriņgis, and Linda Kesenfeld’s SIA “Curiosity Capital” (19.25%).