SIA Coffee Address Holding bond issue

About company

Coffee Address is the market leader in the Baltics, providing self-service premium coffee and convenience food solutions.

Goup has around 5 000 clients and operates in three main segments: vending, retail and convenience, and office solutions.

Group serves a diversified client base with loyal blue-chip customers, including leading gas stations (e.g. Cirkle K), banks (e.g. Swedbank, SEB), and airports (e.g. Riga Airport).

The proceeds from the bond issue will be directed to refinancing of the Group’s existing near-term liabilities with the goal to extend and optimize its debt maturity profile.

Since 2017 Coffee Address has been 100% owned by BaltCap, the leading private equity manager in the Baltics.

Term Sheet


SIA Coffee Address Holding




Private placement

Security type

Secured bonds

Planned issue size

5 000 000 EUR

Coupon rate


Coupon frequency



June 2025

Call option

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

Nominal value

EUR 1 000

Minimum subscription

EUR 100 000

Use of proceeds

• Refinancing of existing liabilities


• DSCR of min 1.1x
• Adjusted Equity ratio of min 30%
• Net Debt / EBITDA of max 4x from the Issue Date, max 3x starting from July 2023


Planned listing on Nasdaq First North within 12 months from issue date


Signet Bank AS

Additional information

SIA Coffee Address Holding presentation
SIA Coffee Address Holding bond issue