Public issue of Marijas 2 SIA bonds: bonds of a company developing a business complex in Riga - an attractive investment opportunity
An attractive investment opportunity: the bonds of Evernord Real Estate Fund III and Marijas 2 SIA, a company managed by Estonian development company Novira Capital, are publicly traded until 2 June.
The funds raised by the bonds are invested in the construction of Novira Plaza, a modern business complex in Riga.
Information on the 6th public round of the Marijas 2 SIA bond issue:
- Issuer: SIA Marijas 2
- Country of incorporation: Latvia
- Type of securities: Real estate mortgage-backed bonds
- Size of the 6th tranche: up to EUR 4 million
- Yield: 8,5%
- Maturity date: 30-05-2024
- Listing: Application for listing on the Nasdaq First North exchange in Riga
- Read more about the project: https://noviraplaza.lv/en
Anyone wishing to take advantage of this investment opportunity can contact Evernord FMI: obligacijos@evernord.com
This information should not be construed as legal, financial or tax advice of any kind. Before making an investment decision, investors should consult independent financial advisers who are qualified to advise on this type of investment and to assess whether the risks of investing in these bonds are acceptable.
https://www.linkedin.com/feed/update/urn:li:activity:7069203517541896192
Dehidra issues EUR 4 million bond: the company will expand in foreign markets
The financial brokerage firm Evernord has placed a EUR 4 million bond for Dehidra, a producer of freeze-dried products. The largest strawberry grower in the Baltics and one of the largest producers of freeze-dried products in Northern Europe intends to use the funds raised in the bond issue to expand its operations.
The two-year bond issue by UAB Dehidra was issued to private investors on a private placement basis, with an annual yield of 12% and interest payable semi-annually. The bonds will be redeemed on 10 May 2025.
"We have been working with Dehidra since 2021, when we also issued €4 million worth of Dehidra bonds in two phases. During these two years, the company has strengthened its production capacity, rapidly increased sales and expanded in export markets. The company, which operates in an interesting market, is one of the relatively rare companies in the agricultural sector engaged in high value-added, state-of-the-art production, and is therefore of interest to investors, both for its uniqueness and for its well-appreciated prospects," says Vismantė Šepetienė, Director of Evernord FMI.
According to V.Šepetienė, the issued bonds will soon be registered with the Central Securities Depository "Nasdaq CSD SE".
"After two years of working with Evernord and successfully deploying borrowed funds, we have made significant progress and grown the value of our business. Simply put, we were gaining momentum, so it was only natural to use the bonds again to finance the planned further expansion. We will use the borrowed funds to expand our export geography - we are already present in South Korea, the United Kingdom and Germany, and we intend to expand our export markets to Taiwan and the United States," says Vykintas Misiūnas, Dehidra's CEO.
In 2022, Dehidra's sales revenues amounted to EUR 4.2 million, of which exports accounted for 60%. In 2023, revenues are expected to reach EUR 10 million, with exports accounting for over 80%.
"Dehidra's product portfolio includes freeze-dried fruit and berries, snacks and smoothies. In mid-2022, Dehidra built a modern plant with two freeze-dryers as part of its first expansion phase. The plant is used for freeze-drying and packaging of own-brand Summmer products, UK brand Mixologist's Garden additives for beverages, and products for wholesalers in export markets, used as additives in the food and beverage industry. The company also supplies its own strawberries to major supermarket chains in Lithuania.
In 2024, the company plans to build two more freeze-dryers in addition to the two existing ones, increasing its annual revenue to almost €20 million.
"Dehidra has partnered with DOLE (formerly Total Produce), the world's largest supplier of fruit and vegetables to supermarkets and businesses, to sell Dehidra's produce on the international market.
https://www.vz.lt/rinkos/2023/05/18/liofilizuotu-vaisiu-bendrove-dehidra-obligacijomis-pasiskolino-uz-12
"Evernord" approves EUR 6.5 million sale of 66% stake in "GET Baltic"
This week a major transaction took place in Lithuania - the gas transmission system operator Amber Grid and the German energy exchange European Energy Exchange AG (EEX) signed a EUR 6.5 million agreement for the sale and purchase of a 66% stake in the Baltic and Finnish gas exchange GET Baltic Gas Exchange. The transaction was approved by Evernord FMI - as it is well known, under Lithuanian law, company share transactions do not always require a notarial form, and can also be executed by a brokerage firm. We are delighted with the confidence of the counterparties and the opportunity to not only observe a significant transaction on the market, but also to be directly involved in its execution!
https://www.linkedin.com/feed/update/urn:li:activity:7064865648924835840
Giedrius Tomas Jarmalavičius, Head of UAB GTJ Investment
Finding like-minded advisors is not easy for an investor, but it is very important for the security of an investment. It is no coincidence that our partnership with Evli Bank of Finland was established many years ago – our trust was built on Scandinavian values, transparency, and warm and direct communication. Our cooperation with Evernord followed in the same spirit. The Evernord team’s attitude, expertise, and readiness to provide the necessary insights at any time, helps us to successfully achieve our investment goals.
Kęstutis Šerpytis, CEO of Lietuvos draudimas AB
I have a long-standing cooperation with Evernord and the company’s profound expertise have always helped me make significant value-creating investment decisions. Evernord’s insights and expertise have guided me through the process and helped me avoid making mistakes, regardless of market circumstances.
Marius Šlepetis, Head of UAB Legal Balance
The joint projects between Evernord and Legal Balance have not only helped us realise our ambitious plans, but have also given us the opportunity to gain new experiences. Our partners’ competences and expert insights help us to successfully grow the company, make value-creating investment decisions and expand our business. They display a professional approach, an impeccable work ethic, and have an ambitious and reliable team that is always a pleasure to work with, always striving to achieve the highest and most sustainable business goals.
Investors are encouraged to lend when yields are rising, inflation is expected to slow down, and central bank policies are favourable
After a stressful year and difficulties in raising capital, borrowers are attracting a lot of investor interest.
In the first 18 days of the year, businesses and governments around the world have already issued almost €600 billion of bonds. That's the most active start to a year in bond markets in history, according to data compiled by Bloomberg.
After a downward spiral last year not only for equities but also for debt securities, businesses and governments faced worsening borrowing conditions, but at the start of this year issuers are seeing a sudden surge in enthusiasm from investors willing to lend.
The latter is driven by yields on debt markets not seen for 15 years and by investors' expectations of a slowdown in inflation and, consequently, of central banks cutting interest rates, possibly as early as the end of this year. This is pushing investors to lock in elevated yields.
Valdas Adamkus, President of the Republic of Lithuania
The Evernord team has been helping take care of our family’s assets for almost 20 years. We feel safe and loved, enjoying special attention, and know that we have entrusted the management of our wealth to genuine professionals. We would also like to express our sincere gratitude for their assistance in establishing the Valdas Adamkus Library-Museum. We are confident that we can rely on those we work with directly and who take responsibility for our investment decisions.
Successful closure of the fund managing an office building in Tallinn with a 14.3% internal rate of return (IRR) for investors
"Evernord Asset Management, the asset management company belonging to the Evernord Group, has seized a favourable opportunity to realise the value created by closing its fund Evernord Real Estate Fund II, which manages an office building in Tallinn, a year and a half ahead of schedule.
"Evernord Real Estate Fund II was established in June 2019 and was a EUR 10 million fund invested in Buroo 31, a 6-storey office building in Tallinn.
"The uncertainty in the market and concerns about declining liquidity helped us decide. Especially as there was a strong offer from a buyer on the other side of the scale. I am confident that the decision to exit early with an agreed price is in the best interests of investors and is appropriate from a risk management perspective. The return of funds will allow investors to take advantage of new investment opportunities. Equity is becoming a crucial factor in the context of the high cost of borrowed funds," notes Jolanta Jurga, Director of Evernord Asset Management.
Over the last year and a half of the fund's operation, the company has been interested in the possibility of realising the building earlier than planned on favourable terms. During this period, four negotiations have been held with potential buyers of the Tallinn building managed by the fund.
The sale of the building was finalised on 15 December, immediately followed by a decision to liquidate the Fund. All units of the Fund were redeemed from investors by the end of 2022.
The building in Tallinn, managed by Evernord, is currently fully let and has a well-diversified tenant base. The building has an annual yield of 6%. The fund's investors' internal rate of return (IRR) was 14.3%.
Why is the number of closed-end funds in Lithuania the highest and what does this mean for investors?
Experts in the Lithuanian market for funds for wealthy investors are currently struggling to imagine a liquidity crisis that would lead to a rapid sell-off of assets and turbulence in the real estate sector, private equity or private debt market.
In recent weeks, liquidity woes in the camp of Blackstone, the world's largest alternative investment manager, have caused concern in some segments of the financial markets.
The Blackstone Real Estate Income Trust (BREIT), a real estate investment trust launched by the manager in 2017, has a size of around EUR 69 billion. It has recently seen a crowd of wealthy clients looking for the exit door. Recently, the volume of client withdrawal requests has exceeded the expected quarterly limit.
The BREIT challenges are not only relevant because of the potential implications for the property market, but also highlight the challenges faced by managers of funds invested in illiquid assets.
https://www.vz.lt/rinkos/2022/12/16/kada-pinigai-nuo-likvidumo-krizes-saugo-investuotoju-uzrakinimas