“Integre Trans” borrows 12% plus 6-month EURIBOR on bonds

”Integre Trans“, transport and logistics company, has used the public bond offering to raise the planned EUR 4 million at the highest offered price.

At the time of the public placement, the interest rate for the bond issue was set at 12% plus 6-month EURIBOR per annum, Verslo Žinios (Business news) has learnt from ”Orion Securities“, the Financial brokerage firm that carried out the placement. The 6-month EURIBOR currently stands at 3.622%.

”Integre Trans“ tested investor demand through a public placement by offering transfers at 12% plus 6-month EURIBOR, 11% plus 6-month EURIBOR and 10% plus 6-month EURIBOR.

The issuer intends to issue a total of EUR 8 million of bonds in a public offering. The second round of distribution was promised for late summer.

”Both the decision to distribute the bonds and the process and presentations to investors were stressful times, as it was the first time we were doing this and everything was new to us. We did not expect such interest from investors and the public. I’m happy because we did it well, which shows that people believe in and trust our company and business. These investments will allow us to diversify our sources of financing and continue our projects as planned,” said Žana Kel, Head of ”Integre Trans“, as quoted in the report.

” The current received investment applications exceed the total amount intended for the distribution,” said Karolis Pikūnas, Head of “Orion Securities”.

The company intends to use the raised funds for financing further development projects and assuring the turnover of working capital. Following the bond distribution to investors on 5 May 2023, the issuer will apply for the bonds to be included in the list of “First North” debt securities list “in the very near future”.