TEILOR Holding raises RON 22 million from BVB investors in a new bond issuance

TEILOR Holding S.A., a group that encompasses the TEILOR luxury jewelry stores and the diversified financial services and retail brand MoneyGold, has successfully completed its second corporate bond issuance, raising a total of RON 22 million (EUR 4.4 mln) from BVB investors – the largest corporate bond issuance of 2024.

The capital was secured through two private placements, one in euros and one in lei, conducted between October 14-25, 2024. The placements were managed by Tradeville, with Cornerstone Communications, TEILOR Holding’s Authorized Advisor, and Filip & Company, the Group’s legal counsel, providing support in the transaction.

“We are grateful to all investors for placing their trust in TEILOR Holding's vision and performance. The Romanian capital market continues to provide valuable opportunities for accelerated growth-oriented companies like ours, and the success of this second private placement underscores the strong recognition of the TEILOR and MoneyGold brands among the local investors. It also affirms our strategic development plans. With the capital raised, we will concentrate on consolidating TEILOR presence locally, expanding the DAAR brand, and enhancing MoneyGold’s presence in the Romanian market. Moving forward, we will prioritize our resources into the areas that show the greatest potential for growth, enabling the Group to deliver top-quality products and services – ranging from TEILOR’s luxury goods and DAAR’s sustainable jewelry to the diversified financial services and retail offered by MoneyGold,” stated Mircea Varga, Chairman of the Board of Directors of TEILOR Holding.

A total of 105 professional and qualified investors participated in the offering. The lei-denominated corporate bonds have a nominal value of 100 lei per bond, a 5-year maturity, and a fixed interest rate of 9.5%, with semi-annual coupon payments. TEILOR Holding anticipates that the 74,160 lei-denominated bonds, with a total value exceeding 7.4 million lei, will be tradable on the AeRO market of the Bucharest Stock Exchange before the end of the year under the symbol TEI29. The euro-denominated bonds have a nominal value of 100 euros per bond, a 5-year maturity, and a fixed interest rate of 8.5%, payable every six months. The 29,275 euro-denominated bonds, totaling 2.9 million euros, will be listed on the AeRO market under the symbol TEI29E at the same time as the lei-denominated bonds.

The offer, which closed on October 25th, 2024, marks TEILOR Holding’s second corporate bond issuance. In December 2021, the company successfully raised 45 million lei through a similar structure, issuing bonds in both lei and euro. These bonds are now traded on the Bucharest Stock Exchange’s AeRO market under the symbols TEI26 and TEI26E.