InterCapital has structured a EUR 15 million senior secured bond issue for Esplanade Oleander Ltd. The bonds were issued with a maturity of 2.5 years, and a bullet repayment profile.
The deal involved careful coordination and cooperation of members of InterCapital group and outside legal counsel to ensure successful execution. Acting as the advisor, InterCapital designed the issuance strategy, found the investors and setup the security trustee system which will represent investors’ interests.
The issue garnered significant attention from local investors, with over 50 investors subscribing to the bonds. This impressive response not only underscores the robustness of InterCapital’s distribution network but also highlights the growing interest of investors in these types of opportunities.
A distinctive feature of this investment lies in the bond’s collateralization, backed by premium real estate in the heart of Zagreb – the iconic Esplanade hotel. This feature adds a layer of security to the investment, enhancing the overall appeal for investors seeking stability.
In addition to its immediate success, InterCapital sees this achievement as a pivotal step in the development of the Croatian corporate bond market, and specifically in the development of the market for collateralized bonds. This successful issuance demonstrates the market’s appetite for well-structured and low risk investment opportunities offering highly predictable returns.