This is the first public bond offering of a building maintenance market player in the Baltic States.
The two-year bond issue was distributed in one tranche which took almost two weeks. With a yield of 5%, the bonds were purchased by 65 different investors.
Civinity will use the raised funds to finance development projects, automate key business processes, and develop new digital products. Part of the funds will also be used to refinance a bond issue issued in 2017.
The newly issued bonds will be introduced to trading on an alternative market First North administered by Nasdaq Vilnius.
The client’s legal advisors in the project were partner Vidmantas Drizga, associate partner Mantas Gofmanas, associate Elvinas Kižys and junior associate Kotryna Visockytė.
Civinity controls more than 20 companies that manage 10 million sq. m. of residential and commercial buildings and has installed several thousands of engineering systems across various European cities.