Invalda INVL plans a public bond issue this year. It would be the first time that the company’s bonds are offered publicly to both institutional and retail investors in the markets of the Baltic countries.
“Invalda INVL benefits from a low level of debt and we have no intention of significantly increasing it. We are issuing bonds because we want to have diversified sources of debt capital. We are also an active participant in the Baltic capital market and have an interest in its development. We will use the money that is raised to finance ordinary business needs – for investing in the funds we manage and meeting all existing bank commitments,” says Darius Šulnis, the CEO of Invalda INVL.
The company’s board has approved a programme for publicly offered bonds with a value of up to EUR 25 million. The programme stipulates that Invalda INVL may issue one or more non-convertible euro-denominated bonds with a maturity of up to 5 years. The bonds would be secured by pledging as collateral a portion of the company’s shares in Šiaulių Bankas, targeting a loan-to-value ratio (the ratio of the bond issue size to the value of the pledged assets) of no more than 50%.
A base prospectus for the Invalda INVL bonds has already been submitted to the Bank of Lithuania for approval.
A first EUR 10 million public bond offering is envisaged in the very near future, depending on the situation in the capital markets and subject to the approval of the offering documents and the necessary decisions of the company’s governing bodies regarding final terms. The issue would be included on the Bond List of the Nasdaq Vilnius exchange.
The offering of Invalda INVL bonds would be organised by Šiaulių Bankas and the financial brokerage company INVL Financial Advisors, which operates under the INVL Family Office brand.
About Invalda INVL
Invalda INVL is the leading Baltic asset management group with a track record spanning over 30 years. Growing and developing with an open approach, it creates well-being for people through its work. The group’s companies manage EUR 1 billion of assets across multiple asset classes including private equity, forests and agricultural land, renewable energy, real estate as well as private debt. The group’s scope of activities also includes family office services in Lithuania and Latvia, management of pension funds in Latvia, and investments in global third-party funds.
The shares of Invalda INVL have been traded on the Nasdaq Vilnius stock exchange since 1995. Further information: https://www.invaldainvl.com/en/.