Bonds of Sakret Holdings admitted to trading on the Nasdaq Baltic First North bond market
Nasdaq Riga has announced that bonds issued by Sakret Holdings have been admitted to trading on the Nasdaq Baltic First North bond market by Nasdaq Riga as of March 2, 2020.
Seventeen years ago, when we founded our company and introduced dry building mixtures, an innovative product for that time, on the Latvian market, we believed in this business idea. This belief allowed us to be bold and move forward step by step and establish successful operations throughout the Baltics, with a production site in each country. We are confident that the issue of bonds will facilitate Sakret’s long-term development in the Baltic region and increase exports.ANDRIS VANAGS, THE CHAIRMAN OF THE COUNCIL OF SAKRET HOLDINGS
The size of Sakret Holdings bond issue is EUR 3.79 million. The annual coupon rate is 9% with the interest payments once per quarter. The nominal value of one bond is EUR 1000. Maturity date of the bond issue is August 30, 2024. Oaklins' team in Riga advised Sakret Holdings on a complex transaction to refinance the existing debt liability with the bank, which resulted in long-term financing from BlueOrange Bank and the bond issue. BlueOrange Bank serves as the Certified Adviser for Sakret Holdings on the First North market.
We welcome Sakret Holdings to Nasdaq. It is a great pleasure to see that Baltic First North market makes it easier for vibrant small and medium size companies like Sakret to continue the growth story and further scale their operations.DAIGA AUZIŅA-MELNALKSNE, THE CEO OF NASDAQ RIGA