Eco Baltia AS börsile
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Läti ettevõte Eco Baltia AS teatas, et alustab võlakirjade pakkumise ja noteerimise menetlust Riia börsile: “Eco Baltia” will start the subscription period for its inaugural 3-year bond issue
The largest environmental and waste management group in the Baltics AS Eco Baltia is entering the bond market and seeks to issue up to 8 million EUR of unsecured fixed-rate bonds.
The maturity of the bonds is set at 3 years, with an option for the issuer to call the bonds after 2 years. Interest rate (coupon) of the bonds will be fixed for the whole period and will be set within the range of 8% to 9% upon expiration of the subscription period. Subscription period will start on the 2nd of February and will end on the 10th of February.
The bonds may be subscribed by qualified investors and retail investors, who will be able to purchase up to 8,000 bond units in total with a 1,000 EUR nominal value of each bond. Minimum subscription amount for one investor is set at 10 bond units, or 10,000 EUR.
The financing raised in the bond issue is intended to be used for future development projects of Eco Baltia aimed to support further expansion at the European level and promote circular economy.
In order to subscribe to the bonds, a retail investor in Latvia or Lithuania must have a securities account with a financial institution that is a member of Nasdaq Riga or has relevant arrangements with a member of Nasdaq Riga. Qualified investors may subscribe the bonds through the arranger – Luminor Bank – or through any other financial institution which is participant of Nasdaq CSD and participates in Nasdaq CSD Latvian Securities Settlement System or has indirect access to Nasdaq CSD Latvian Securities Settlement System.
General investor call with issuer investor presentation and Q&A session will be organized on 7 February at 2pm (EET). Investors can register to the webinar here: https://nasdaq.zoom.us/webinar/register/WN_l8ws-NSWSzGAp_POsa_-lQ. After filling in the application form, attendees will receive a link to the webinar and instructions to their e-mail.
“We are prepared to take the next step and attract financing in the capital market, confirming Eco Baltia’s growth story, development perspective and profitability to the investors. We are the only company in the Baltics, which provides full cycle of waste management. Our uniqueness is supported by strong business results, persuasive strategy and growing market in the Europe and abroad,” says Māris Simanovičs, Chairman of the Management Board at Eco Baltia.
“This bond issue will allow Eco Baltia to continue on its successful path of strengthening its contribution towards circular economy promotion and implement further strategic initiatives,” says Vytautas Plunksnis, Partner at INVL Baltic Sea Growth Fund and Chairman of the Supervisory Board of Eco Baltia.
Application will be made for listing the bonds at Nasdaq Riga alternative market First North within 6 months upon issue.
One of the leading financial service providers in the Baltic States - Luminor Bank - is mandated as a Sole Lead Manager of the transaction, together with Šiaulių bankas acting as Co-Manager and Dealer. Transaction legal counsel and Certified Adviser is law firm TGS Baltic, and trustee - law firm Eversheds Sutherland Bitāns.
All information about the bond issue and subscription process is provided in the Offering Document and Final Terms which can be found on Eco Baltia’s website www.ecobaltia.lv section “Investors”.
About Eco Baltia
Eco Baltia group is the largest environmental and waste management group in the Baltics, providing the full-cycle waste management solutions from waste collection and sorting to secondary raw material logistics, wholesale and raw material processing as well as PET and PE/PP plastics recycling.
In the first nine months of 2022, the Eco Baltia group reached its highest consolidated net turnover up to date – €154.9 mn. Consolidated net turnover almost doubled, compared to first 9 months of 2021, when consolidated net turnover was €78.5 mn. In September 2022, the group expanded its operations outside of the Baltics, with its PET recycling arm AS PET Baltija, one of the largest PET recyclers in Northern Europe, completing the acquisition of a leading Czech fibre producer TESIL Fibres. In January 2023 Eco Baltia also completed acquistion of Latvian street and road maintance company Pilsētas Eko Serviss.
The group companies employ more than 2,300 employees in Latvia, Lithuania, and Czech Republic. Its leading companies are PET Baltija, Eco Baltia vide, Pilsētas Eko Serviss, Latvijas Zaļais punkts, Nordic Plast, JUMIS, Czech TESIL Fibres and Lithuania-based Ecoservice.
Shareholders of Eco Baltia are private equity fund INVL Baltic Sea Growth Fund (52.81%), the European Bank for the Reconstruction and Development (30.51%) and management of the company (16.68%).
INVL Baltic Sea Growth Fund
With a size of EUR 165 million, the INVL Baltic Sea Growth Fund is one of the largest private equity funds in the Baltics. The European Investment Fund (“EIF”) is its anchor investor.
The EIF, which is a part of the European Investment Bank, has committed EUR 30 million with the support of the European Fund for Strategic Investments (a key element of the Investment Plan for Europe, or ‘Junker Plan’) whilst also allocating resources from the Baltic Innovation Fund, a “fund of funds” initiative developed in cooperation with the governments of Lithuania, Latvia and Estonia. The initiative aims to increase capital investment in high-growth potential small and medium-sized enterprises in the Baltics.
The fund seeks to assemble a diversified portfolio of companies, targeting majority or significant minority stakes through investments ranging from of EUR 10 million to EUR 30 million. These companies must demonstrate high growth potential and an ability to succeed in conditions of increasing global competition and market volatility.
The fund is focused on the Baltic countries and neighbouring regions including Poland, the Nordics, and Central Europe. The fund has invested in seven companies to date, focusing on sectors including healthcare, medical rehabilitation, civil engineering, environmental management (plastic recycling and waste management), veterinary services, and the manufacturing of cosmetics and hygiene products.
The fund is managed by INVL, the leading Baltic investment management and life insurance group. The group’s companies manage pension and mutual funds, life insurance directions, individual portfolios, private equity as well as other alternative investments. More than 300,000 clients in Lithuania, Latvia and Estonia plus international investors have entrusted the group with the management of over EUR 1.75 billion of assets. With a track record spanning 30 years, the group has strong expertise and experience in managing private equity assets and building true market players that are leaders in their respective fields in the Baltic countries and across Central and Eastern Europe.
Important Notice
The contents of this announcement have been prepared by and are the sole responsibility of the Company. The information contained in this announcement is for background purposes only and does not purport to be full or complete. No reliance may be placed by any person for any purpose on the information contained in this announcement or its accuracy, fairness or completeness.
This announcement is not an offer to sell nor a solicitation to buy any securities in any jurisdiction nor a prospectus for the purposes of the Prospectus Regulation. Any subscription or purchase of securities referred to in this announcement should be made solely on the basis of the information contained in the Offering Document. The information in this announcement is subject to change. Before subscribing for or purchasing any securities, persons viewing this announcement should ensure they fully understand and accept the risks which are set out in the Offering Document. No reliance may be placed for any purpose on the information contained in this announcement or its accuracy or completeness.
Offering Document is available at the Company’s website www.ecobaltia.lv section “Investors” and copies of the Offering Document are available from the Company's registered office. This announcement does not constitute a recommendation concerning a possible offer. Persons considering making investments should consult their financial and other advisors as to the suitability of a possible offer for the person concerned.
Kahjuks või õnneks Eesti investoritele selles emissioonis osalemise võimalust ei ole, ainult Läti ja Leedu investorid saavad osaleda.
Miinimumsumma 1000 EUR võlakirja eest x 10 tk = 10 000 EUR, on ka natuke kõrge, et keskmisel väikeinvestoril osaleda.
Eestlased saavad siis järelturult noppida, kui kellegil huvi tekib. -
Huvitav, et LHVs on võimalik seda Eesti investoritele ka saada
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Nende peakontor asus ka prügimäel, vähemasti oli see nii kolm aastat tagasi :)
Jõle urgas.
