Signet Bank raises €10 million in funding for OC VISION through bond issuance

OC VISION, the largest eye care company in the Baltics, successfully raises €10 million through a public bond offering During its public bond offering, OC VISION, the leading eye care company in the Baltics, successfully raised €10 million at a fixed interest rate of 6%. The total demand for the secured bonds was €13.1 million, which is more than 130% of the targeted issue amount.

The bond offering attracted interest from both private and institutional investors from four countries — Latvia, Lithuania, Estonia, and Germany. Institutional investors highly valued the stable and sustainable prospects of the healthcare sector, represented by the company.

Approximately 95% of investor demand came from Latvian investors, with the remainder coming from Lithuania, Estonia, and Germany. This is a strong signal not only for the development of the private investor community in Latvia but also for the growing financial literacy among the population, which contributes to the investment of free funds in bonds.

We are pleased with the successful conclusion of our first bond issue and highly appreciate the trust shown by investors. We thank each investor who has chosen to invest in OC VISION’s future development. Our growth model is based on expanding our store network, strategically acquiring other market players, and modernizing eye care technology. The raised funds will not only help refinance existing liabilities but also ensure even greater accessibility of eye and ear health services and the latest technologies in the Baltics,

said Gatis Kokins, Board Member and Co-Owner of OC VISION.

Investor interest in the offering, especially in a period of high bond issuance activity in the Baltic capital markets, confirms both the attractiveness of the healthcare sector and the trust in OC VISION as a regional leader in this field. “It has been a pleasure to support OC VISION’s debut in the capital markets and provide investors with access to a balanced investment opportunity in a stable and socially significant sector,

commented Edmunds Antufjevs, Head of Investment Banking at Signet Bank AS.

As demand for the bonds exceeded the issue volume, the issuer decided to allocate full allocation to all private investors, with the remaining portion being distributed among institutional investors. Private investor interest was driven not only by market conditions and the sector’s potential but also by the loyalty program included in the offering, which offers investors, starting from €500, the opportunity to participate in an exclusive Investor Loyalty Program with three levels — VISIONARY Bronze, Silver, and Gold. Private investors will be able to register for this program at https://ocvision.eu/lv/investoriem/ starting from July 1, 2025, and it will last for three months, until September 30, 2025, at 11:59 PM.

Following the bond issue, OC VISION will submit an application to Nasdaq Riga for the inclusion of the bonds in the Nasdaq Baltic First North market. The first trading day for the bonds on Nasdaq Riga’s First North list is expected to be June 30.

The settlement for the bonds will take place on June 20, 2025. Bondholders will receive quarterly coupon (interest) payments, with the first coupon payment scheduled for September 20, 2025.

The organizer of the bond issuance is Signet Bank AS, the leading investment bank in Latvia, and legal advice is provided by TGS Baltic. The collateral agent is Sorainen Law Firm.

About OC VISION

Founded in 1991, the OC VISION group is a significant player in the optical market with 50 retail locations in Latvia and 27 in Lithuania, offering eye care services through well-known store networks such as Vision Express, OptiO, and VIZIONETTE. Additionally, the company has successfully expanded its operations in e-commerce under the Dr. Lensor brand, which operates across all Baltic states and is expanding into Northern Europe. Under the Opptica brand, the group is a trusted partner in the wholesale of optical products and ophthalmic instruments, serving the eye care and medical professionals in the Baltics.

On March 25, 2025, the Central Finance and Contracting Agency (CFLA) approved the investment project application No. 1.2.1.3/1/25/A/001 “OC VISION financing from the capital market to increase international competitiveness and investments in development and innovation.” The total eligible project costs amount to €266,866.56, with EU support contributing €102,000.00 and state support of €18,000.00.