Congratulations to the client Žalvaris, one of the largest industrial waste management companies in Lithuania, whose bonds have been admitted to trading on the Nasdaq Baltic First North market by Nasdaq Vilnius.
Žalvaris has successfully raised EUR 5 million through a public bond offering to investors in Lithuania, Latvia and Estonia. Each bond has a nominal value of EUR 1,000, offers an annual coupon rate of 9.5%, and matures in two years.
The bonds issued by Žalvaris attracted 647 investors and resulted in an oversubscription amounting to EUR 15 million worth of bonds.
“We are pleased with this success, as the bond issuance will provide the company with the opportunity to choose from various funding options – not only from different banks but also from different financing methods, which will help the company optimize its debt in the future,” said Vitoldas Sapožnikovas, Director of Žalvaris.
Šiaulių Bankas was the arranger of the public bond issue, while the TGS Baltic lawyers – Dalia Augaitė and Gabija Šidlauskaitė – advised the client on all legal matters.
UAB Žalvaris, a member of Green Group, is one of Lithuania’s largest and long-established automotive and industrial waste management companies and the leader of this sector in the Baltic States.
Nasdaq Baltic First North market is tailored to support smaller, growing companies that want to raise capital and get the visibility and credibility of being a public company. For investors, First North offers an opportunity to invest in companies that are at an earlier stage of their growth.
