Amber Beverage Group bond issue

About company

With its origins dating back to 1900, Amber Beverage Group (ABG) is a vertically integrated and rapidly growing spirits company with a global presence.

ABG operates its own spirit production facilities in Latvia, Estonia, Mexico and EMEIA, as well as provides third-party brand distribution and management for wide range of beverages, including more than 100 own and 1,300 third-party brands.

The most popular ABG own brands are Moskovskaya Vodka, Riga Black Balsam, whiskey Irishman and Writer’s Tears and tequila KAH and Rooster Rojo, sparkling wine Cosmopolitan and others.

ABG operates the largest network of specialized beverage retail stores in Latvia and Lithuania with more than 60 stores.

Term Sheet

Issuer

Amber Beverage Group Holding S.à r.l.

Sector

Alcoholic beverage production and distribution

Offer Type

Private placement

Security type

Senior secured bonds

Collateral

• 1st rank mortgage on the land plot in Free port of Riga
• Commercial pledge on assets of ABG Real Estate SIA
• Commercial pledge on shares of ABG Real Estate SIA
• Assignment of claims against SPI Group Holding Limited (EUR 23m loan)

Issue size

EUR 30 000 000

Coupon rate

7,5 % + 3M EURIBOR

Coupon frequency

Quarterly

Price

100%

Term

March 2027

Call option

@103% after 2nd year,
@102% after 3rd year,
@101% 3 months before maturity

Nominal value

EUR 1 000

Minimum subscription

EUR 100 000

Covenants

• Interest coverage ratio of min 2x
• Equity ratio of min 35%
• Debt / EBITDA of max 4.0x

Use of proceeds

Warehouse development in Free port of Riga

Listing

• Nasdaq Baltic Regulated Market within 6 months after the Issue Date
• Frankfurt Open Market (Alternative Market)

Arranger

Signet Bank AS

Additional information

Amber Beverage Group bond issue

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