Signet Bank successfully organizes the bond issue for the jewellery store chain Given

Latvia’s leading jewellery retail network “Given by Grenardi” (“Given”) has made its debut on the bond market. AS “GIVEN Jewellery”, the parent company of “Given”, in cooperation with Signet Bank issued secured bonds in the amount of EUR 3 million with an annual coupon rate of 6% and a maturity of 2.5 years. The annual interest rate on the issue is 6% with a maturity of 2.5 years.

Bonds are a suitable form of financing to achieve the goals set by “Given”, allowing to attract more funding, diversify the investor base, adjust the transaction structure to the company needs and promote brand awareness. The funds raised through the bond issue will be directed at refinancing existing loans and expanding the “Given” retail network in the Baltic States.

The issue of bonds is a strategic step in the development of “Given” – the funds raised will provide us an opportunity to become the leading jewellery network in the Baltic States. We plan to expand our retail network in Latvia and Estonia, as well as to start a business operations, so that our high-quality jewellery is available to our customers within 30 minutes from anywhere in the Baltic States. We know that “Given” customers appreciate quality, variety of products, favourable price offering, excellent customer service and a welcoming environment of our stores. E-commerce platforms also play a significant role in the dynamic growth of “Given” – they became popular due to the increased interest in Internet shopping, customer support, favourable delivery terms, and a wide range of products.

Ģirts Rudzītis, member of the Board at “Given”

We were happy to support “Given” in this important step in the company’s development. Both private and institutional investors, mainly from Latvia, participated in the bond issue. Investors had a unique opportunity to invest in bonds secured by the company’s assets, which primarily consist of liquid inventory of precious metals. Given is a great illustration that bonds can be an excellent alternative source of financing to support a company’s growth strategy.

Kristiāna Janvare, Head of Investment Division at “Signet Bank”

“Given” bonds are planned to be included in the Nasdaq Riga alternative market Nasdaq First North within a year after the issue.

About “Given”

“Given” is a Latvian company with many years of experience in jewellery retail. Currently, the network has 35 stores in Latvia, 3 in Estonia, and online stores. “Given” offers jewellery for women, men, and children, as well as interest-free instalment payments, gold exchange and other services. The company’s team currently consists of 118 employees.

About “Signet Bank“

The bank was founded in 1992 as Latvijas Biznesa banka. Since 2013, it has focused its strategy on servicing entrepreneurs and their businesses, with an emphasis on high-quality capital management and structuring financing projects. Signet Bank’s shareholders are nine Latvian and international private investors.