Announcement about the outcome of distribution of Invalda INVL notes

On 12 June 2024, the issuance of non-convertible medium-term notes of Invalda INVL in the amount of EUR 10 million was completed. 481 investors submitted orders to subscribe for notes for a total amount of EUR 29.035 million – resulting in an oversubscription of 2.9 times the issue volume.

Fixed interest rates were determined through an auction in the range of 7% to 8%. The size, quality, and diversity of the orders allowed Invalda INVL to set an annual interest rate of 7% – the lowest limit of the specified range. Interest will be paid to investors semi-annually, with a calculation basis of 30E/360.

Darius Šulnis, CEO of Invalda INVL, comments: “We are grateful to investors for their trust, as demonstrated by the oversubscription of the notes, which were 2.9 times the issue volume, and the interest rate set at 7%. We have introduced a safe, transparent investment product to the market while tapping into another alternative source of capital for Invalda INVL“.

Based on the decision of the company, the notes have been allocated to the investors as follows:

• The notes are allocated only to those who submitted orders at 7% annual interest. Investors who submitted orders at 7.5% annual interest and/or at 8% annual interest were not allocated any notes.
• For the allocation of notes, investors are divided into 4 groups based on the size of their orders. Within these groups, all investors are treated equally and receive notes on the same terms.
• All investor subscription orders up to EUR 30,000 are fully satisfied. Investors whose subscription orders are for a larger amount receive at least EUR 30,000.
• The number of notes has been rounded down to the nearest whole number.

The notes were subscribed by 216 investors from the Baltic States, of which 63.8% are retail and 36.2% are institutional investors, based on the nominal value of the notes. This issue of the notes consists of 10,000 units of non-convertible notes, each with a nominal value of EUR 1,000, the annual interest rate of 7% and the maturity date of 14 June 2027. The company may redeem the notes earlier, as specified in the base prospectus. The updated Final Terms (in English) and updated summaries, reflecting the final interest rate, are enclosed with this notification.

The notes will be transferred to the securities accounts of the investors on 14 June 2024.

The notes will be listed on the Baltic Bond List of Nasdaq Vilnius Stock Exchange.

The ISIN code of the notes is LT0000409229.

The notes are secured by pledging as collateral a portion of the shares held by the company in Šiaulių Bankas (first ranking pledge), targeting to keep the value of the collateral at a loan-to-value ratio (the ratio of the notes issue size to the value of the pledged assets) not exceeding 50%.

The Offering was conducted in accordance with the Base Prospectus of the Programme for the issuance of notes in the amount of EUR 25,000,000, approved by the Bank of Lithuania on 28 May 2024

APPENDICES:

Invalda_INVL_Updated Final Terms_2024-06-12

Invalda_INVL_Updated Summary EN_2024-06-12

Invalda_INVL_Updated Summary LT_2024-06-12

Invalda_INVL_Updated Summary LV_2024-06-12

Invalda_INVL_Updated Summary EE_2024-06-12

The person authorised to provide additional information:
Darius Šulnis
CEO of Invalda INVL
E-mail [email protected]