FERN Group borrowed from bonds offered publicly on the capital market

FERN Group, a group of engineering services and industrial construction companies controlling Montuotojas, Fern EPC and Fern Production, placed a 2-year EUR 8 million bond issue in the public domain and offered an annual interest rate of 9%. These bonds were placed to private and institutional investors in the Baltic States.

A total of 406 investors purchased FERN Group bonds, and 74% of them were from Lithuania.

Interest will be paid quarterly and the bonds offered to investors are secured by a guarantee from the INVL Baltic Sea Growth Fund.

The total amount of applications received was EUR 9.522 million, exceeding the supply by one fifth. The funds raised through the bonds will be used to refinance previous commitments amounting to around EUR 5 million. FERN Group will settle its debt to the State Investment Management Agency (VIVA), which has financed the activities of the group’s company Montuotojas.

The other part of the money, around EUR 2.29 million, will be used for general business needs, for the growth of the Group and the implementation of its strategic objectives.

The client was represented by COBALT Partner Eva Suduiko.