AS Grenardi Group launches new subordinated bond offering with 10% fixed annual interest and bond exchange offer

AS Grenardi Group invites investors to subscribe to subordinated bonds with a fixed annual interest rate of 10% from 13 May to 26 May 2026. The bonds are offered to both retail and institutional investors across Latvia, Estonia, and Lithuania. The planned issue size is up to EUR 7 million, with each bond having a nominal value of EUR 100.

As part of the offering, holders of the Company's first tranche senior secured bonds (ISIN LV0000860179), issued under the bond programme, are also offered the opportunity to exchange their current holdings for the new subordinated bonds. The exchange is carried out in accordance with the terms described in the Information Document. 

The primary purpose of the issue is to partially refinance the existing first tranche senior secured bonds by way of the exchange offering, and to refinance the existing subordinated bonds (ISIN LV0000870103). The bonds have a maturity of 4 years with interest paid monthly. AS Grenardi Group intends to apply for the listing of the bonds on the Nasdaq Baltic First North market within 12 months following the issue date.

“This bond issue marks the next stage of the Group’s growth, securing the successful refinancing of our existing bonds and the focused execution of our long-term strategy. We are actively capturing attractive growth opportunities across our existing markets and internationally, while accelerating our investments in digitalisation, operational excellence, and AI-driven solutions. The longstanding trust of our investors has been a key driver of the Group’s growth story, and we are confident in carrying it forward into this next chapter,” said Ainārs Spriņģis, Chairman of the Management Board of AS Grenardi Group.

The subscription and exchange period runs from 13 May to 26 May 2026.

Signet Bank is the arranger of the bond issue, while Eversheds Sutherland Bitāns is the legal adviser.

About Grenardi Group 

AS Grenardi Group is the parent company of jewellery retail chains GIVEN, GRENARDI, GOLDLIGHT, as well as GOLDWORK, a provider of jewellery repair services. As of 31 March 2026, AS Grenardi Group operates a total of 90 stores – of which 74 are GIVEN chain stores, 7 GRENARDI salons and 9 GOLDLIGHT chain stores. Additionally, the Group has seven online stores: www.given.lv, www.given.ee, www.given.lt, www.grenardi.lv, www.grenardi.ee, www.grenardi.cz and www.goldlight.lv.

GIVEN is a jewellery brand that stands for joy, beauty, love, creativity, and sustainability by expressing this in its jewellery – through design, unique collections of brands, and carefully considered details, making the valuable accessible.

GRENARDI has been the leading luxury jewellery retail chain in Latvia and Estonia for more than 25 years, and in 2025 entered the Czech market by opening two jewellery salons on Prague's main shopping street. GRENARDI offers an extensive assortment of world-renowned luxury jewellery brands and sophisticated private collections.

GOLDLIGHT is a well-known jewellery retail chain in Latvia offering its customers a wide assortment of gold, silver and diamond jewellery, alongside renowned brands such as Nomination, Ti Sento, Mirco Visconti and others.

GOLDWORK has been providing jewellery repair services for over 20 years and has extensive industry expertise. The services offered by GOLDWORK include jewellery repair, maintenance and restoration.

This announcement is a marketing communication and does not constitute investment advice or an offer. The information provided herein contains statements on the public offering of bonds of AS Grenardi Group. Every investment decision must be based on the information document prepared and published in accordance with the applicable laws and regulations of Latvia, Lithuania, and Estonia governing the preparation and publication of information documents for public offerings. The information document does not constitute a prospectus within the meaning of Prospectus Regulation and has not been approved by any competent authority. The information document is available on AS Grenardi Group website (https://grenardi.group).