AS Grenardi Group has received a binding offer from Signet Bank AS to refinance its outstanding EUR 12,000,000 nominal value bonds with a fixed interest rate of 10%, maturing on 16 April 2027 (ISIN: LV0000860179) (the “Bonds”), through a new bank loan.
In accordance with the Base Prospectus of the bond programme and the Final Terms, AS Grenardi Group intends to exercise its right of early redemption. The early redemption is expected to take place on the next coupon payment date, 1 June 2026, subject to the completion of the refinancing. The record date for determining bondholders entitled to early redemption will be 29 May 2026.
“The planned bond refinancing is an important step in strengthening Grenardi Group's capital structure. It will allow us to reduce our cost of funding, improve financial flexibility, and create a more stable foundation for future growth. Signet Bank's financing on lower-cost terms reflects confidence in Grenardi Group's business model and growth potential. We highly value the trust of our bondholders and thank them for their continued support,” said Ainārs Spriņģis, Chairman of the Management Board of AS Grenardi Group.
“Signet Bank has maintained a long-standing cooperation with Grenardi Group, having supported the company’s growth as an arranger of several bond issues. We are pleased to continue this collaboration by supporting Grenardi Group in its next phase of development with a bank loan that will enable the company to further optimize its financing structure and support its future development,” comments Staņislavs Samohvalovs, Head of Corporate Client Services at Signet Bank.
Further information and next steps
The completion of the refinancing is subject to the signing of final agreements and standard closing conditions.
AS Grenardi Group will continue to keep market participants informed of the progress of the refinancing and the early redemption of the bonds.
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.