We are proud to announce the successful completion of JGL’s latest bond issue. The strong interest and favourable final terms achieved are a testament to JGL’s credibility as a trusted issuer in the domestic capital market and reflect investor confidence in our strategic direction and dynamic growth over recent years.
The culmination of six months of dedicated effort resulted in the successful subscription of €91.7 million in Sustainability-Linked Bonds (SLB), significantly surpassing the allocated nominal amount of €60 million. The bond issue, set to mature in 2029, was achieved with a yield to maturity of 4.20%, a fixed interest rate of 4.125%, and a risk premium of 143 basis points.
"This project is crucial for the future development of our company. A comprehensive review of opportunities and risks, combined with a clearly defined position of JGL – evident in the doubling of our business over the past five years – was instrumental in achieving this highly successful bond placement," stated Mislav Vučić, CEO of JGL, highlighting the significance of broadening investor support for the new bond, driven primarily by strong interest from commercial banks and pension funds.
"We have successfully concluded an outstanding transaction, and I am especially pleased to see JGL's solid position in the financial market reaffirmed. The strong response from investors allowed us to secure financing under competitive market conditions, underscoring JGL’s appeal as a highly attractive issuer in the domestic capital market. I extend my heartfelt thanks to the dedicated multidisciplinary JGL team for their expertise, unwavering focus, and successfully completed tasks throughout this project," said Anton Barbir, Director of Corporate Finance at JGL and project manager. He also expressed gratitude to the agents, PBZ and Erste Bank, the Marić, Perić, Reberski and Rimac Law Firm, ESG advisor PwC, and auditor ISS for their active support and guidance throughout the process.
Unlike previous issues, this new bond is directly tied to sustainability. This reflects JGL’s ongoing commitment to sustainable development and aligns with its business strategy, which includes clearly defined environmental, social, and governance objectives. Given its value, this issue marks the largest sustainability-linked bond issue in Croatia’s private non-financial sector.