UAB Modus Grupė launches EUR 8 million public bond issue

UAB Modus Grupė, which operates in mobility services, the auto business, investment funds, and other businesses, on Friday, 17 November, began a public offering of surety bonds with a maturity of up to 2 years. The group plans to raise EUR 8 million through the issue. The funds will refinance up to EUR 8 million of bonds issued three years ago.

The debt securities with a maturity of up to 2 years are being offered to private and institutional investors. Interest on them will be paid twice a year at the annual rate of 6-month EURIBOR + 7%. The bonds have a nominal value of EUR 100 each. MG NL Holding B.V., the parent company of UAB Modus Grupė, will provide surety for the bonds. The offering will run until 29 November.

“Our group of businesses has been growing successfully for more than 30 years. During this time, we have grown four distinct businesses, operating in different geographic markets and responding differently to economic cycles. Such diversification of businesses makes our group resilient to external factors. We believe investors will recognize that once again and choose to invest in our bonds,” says Ainė Martinkėnaitė-Martyniuk, the Chairman of the Board of UAB Modus Grupė.

In the first half of this year, UAB Modus Grupė had revenue of EUR 192.6 million, nearly the same as in the first half of 2022, when it was EUR 191.1 million. EBITDA in the first half of 2023 was EUR 15.1 million, compared to EUR 19.5 million in the same period last year.

As with earlier bond issues, an application will be made to list the new UAB Modus Grupė bonds issue on the First North alternative securities market operated by Nasdaq Vilnius. The bonds will be distributed by AB Šiaulių bankas.

UAB Modus Grupė placed its first EUR 5 million public bond issue in 2017 and a second EUR 8 million public bond issue in 2020.

About UAB Modus Grupė

UAB Modus Grupė operates in four main areas: mobility services (CityBee, MyBee, Mobility Fleet Solutions), the auto business (with 16 well-known brands, including Porsche, Bentley, CUPRA, and Maserati), the management of investment funds (Modus Asset Management), and real estate activities (Unimodus).

About Modus Group

The Modus Group is an international group that includes UAB Modus Grupė and the renewable energy business Green Genius International B.V. The group has four core business lines: renewable energy, the auto business, mobility services, and the management of investment funds. It also owns and manages real estate.