GIVEN Jewellery bond issue

About company

Established in 2018, with over 150 employees GIVEN is one of the largest and fastest growing jewellery retailers in the Baltics with presence in top shopping centers.

The Group operates 42 shops in Latvia, 7 shops in Estonia and 6 shops in Lithuania. The Group plans significant growth over the next few years, further rolling out its shop network, particularly in Lithuania and Estonia.

The Group offers wide assortment of high quality jewellery at affordable prices and unique private brands and has a well developed e-commerce platform.

The founder and largest shareholder of GIVEN Ainārs Spriņģis is a successful Latvian entrepreneur with 20+ years of experience in jewellery industry (as the founder of Grenardi) and retail.

The Group has a solid own capital base with a Capitalization ratio of 38% as at 31 March, 2022.

Term Sheet

Issuer

AS GIVEN Jewellery

Security type

Senior secured bonds

Offer type

Private placement

Use of proceeds

Investments in working capital

Collateral

• Commercial pledge on assets of SIA GIVEN Latvia, GIVEN Estonia OÜ and GIVEN Lithuania UAB
• Corporate guarantee from SIA Given Latvia, Given Estonia OÜ and GIVEN Lithuania UAB

Issue size

EUR 4 000 000 (to be placed gradually by YE 2022)

Coupon rate

6.0% + 3M EURIBOR

Coupon frequency

Quarterly

Maturity

31.07.2025

Principal repayment

Maturity date, bullet

Call Option

@102% after 1st year,
@100.5% last 3 months before maturity

Nominal value

EUR 1 000

Minimum subscription

EUR 100 000

Listing

Nasdaq Baltic First North within 12 months after the Issue Date

Covenants

• Interest coverage ratio of min 2x
• Capitalization ratio of min 30%
• Inventory coverage ratio of min 1.4x

Arranger

Signet Bank AS

Additional information

GIVEN Jewellery bond issue

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GIVEN Jewellery presentation

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