Invalda INVL plans offering of bonds this year
24 Mayo 2024 - 12:30AM
UK Regulatory
Invalda INVL plans offering of bonds this year
Invalda INVL has engaged AB Šiaulių bankas and UAB FMĮ INVL
Financial Advisors to assess the possibilities of borrowing on the
capital markets and, after completing all steps required by law, to
arrange the placement of bonds.
The Management Board of Invalda INVL has approved a bond
programme of up to EUR 25 million in accordance with the base
prospectus, on the basis of which the company may issue one or more
series of one or more tranches of non-convertible bonds denominated
in Euro with a maturity of up to five (5) years and with a fixed
interest rate. The bonds would be secured by pledging as collateral
a part 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 has already been submitted to the Bank of
Lithuania for approval.
Depending on the situation in the capital markets and subject to
the approval of the bond offering documents and the necessary
decisions of the management bodies on the final terms, Invalda INVL
plans to issue the bonds later this year by listing the issue on
the Nasdaq Vilnius debt securities list. The EUR 10 million bond
tranche of the programme is anticipated to be issued in the near
future. In the case of issuing bonds, the issuer would use the
funds raised to invest into the funds managed by the Invalda INVL
group and to repay its obligations under the credit line agreement
with Luminor bank.
Once the company's Management Board approves the final terms of
the first tranche of bonds, the company will make a further
announcement.
The person authorised to provide additional information:
Darius Šulnis
CEO of Invalda INVL
E-mail darius.sulnis@invl.com
Invalda Invl Ab (LSE:0IJB)
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