Civinity launches €8 million bond issue


Civinity launches €8 million bond issue

Civinity, one of the largest building maintenance and engineering solutions groups in the Baltics, launches a public bond issue of EUR 8 million, offering an annual interest yield of 11%. The funds raised will be used to refinance the bond issue in 2021.

The placement of the two-year notes will take place in one two-week tranche. “The Civinity bonds will be offered to private and institutional investors and will bear interest at 11% per annum. The nominal value per bond is EUR 1 000.

“This is not our first bond issue: in our first public placement, we received strong investor interest and support for our growth strategy, and we placed the bonds faster than planned. We are ready to continue to grow faster than the market, so we believe that the interest will be just as strong this time around,” comments Deividas Jacka, shareholder and Chairman of the Board of Civinity.

The bonds are distributed by Šiaulių bankas AB, and the company is advised by TGS Baltic law firm on legal issues of the issue. The newly issued bonds of the company will be listed on First North, an alternative securities market administered by Nasdaq Vilnius.

“Civinity is one of the largest building maintenance and engineering solutions groups in the Baltics. The company brings together more than 30 companies that maintain 10 million sqm of residential and commercial buildings and have installed several thousand engineering systems in different European cities. In 2022, the Civinity team had 1,711 employees in Lithuania, Latvia and the UK, revenues of EUR 74.158 million and EBITDA of EUR 4.121 million.