The decision was made by the company’s board, motivated by the fact that the company has more free funds than it needs for planned investments.
“We have enough free funds to repay this debt to investors ahead of schedule. This reduces the company’s financial costs while maintaining sufficient capital for investment plans,” said Darius Šulnis, CEO of Invalda INVL, in a statement.
Bondholders will receive the full nominal value – 1 thousand euros for each bond – together with accrued but unpaid interest up to the redemption date.
“When issuing bonds, we said that Invalda INVL aims to have diversified sources of borrowed capital and to provide an opportunity to invest to all investors operating in the Baltic countries, including retail investors. This direction remains relevant – the company does not rule out the possibility of returning to the capital markets in the future,” emphasized D. Šulnis.
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The issue was released in June 2024, and its redemption date was June 14, 2027.
This was the first public market bond placement by Invalda INVL. Demand exceeded supply by 2.9 times, with 216 retail and institutional investors from the Baltic countries acquiring them. The majority – 63.8% – went to retail investors, 36.2% to institutional investors.
