The maturity date of the bonds is set on 17 February 2026, with an option for the issuer to call the bonds after 2 years. The nominal value of a bond is EUR 1,000, the interest rate (coupon) of 8% is fixed for the whole period of the bonds.
The proceeds raised will be used to finance future development projects of Eco Baltia, with a focus on supporting the company’s expansion plans in Europe and promoting the circular economy.
This transaction is exceptional because:
- The issue of MEUR 8 was publicly offered to retail investors in the Lithuanian and Latvian markets (the usual choice is to publicly offer issues of up to MEUR 8 only in one jurisdiction).
- Retail investors were very active in this transaction and were allocated EUR 5.5 million (69%) of the total issue with institutional investors making up the remaining EUR 2.5 million (31%). Most of the retail demand came from Lithuanian and Latvian investors with subscription amounts standing at 54% and 42% of total retail orders respectively.
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.