Moravcevic Vojnovic and Partners in Cooperation with Schoenherr has advised Elixir Group on its recent green bond issuance totaling RSD 4.1 billion (approximately EUR 35 million).
Elixir Group is a chemicals and mineral fertilizers producer. According to Schoenherr, the transaction saw the issuance of 341,700 green bonds, each with a nominal value of RSD 12,000, bearing an annual interest rate of 6% and maturing in five years. The bonds are set to be listed on the Open Market of the Belgrade Stock Exchange. Proceeds from the bond issuance will be used to finance the construction of a new plant in Prahovo, Serbia, for the production of crystalline technical mono ammonium phosphate.
Additionally, Schoenherr reports that Scope Ratings has assigned a first-time issuer rating of BB/Stable to Elixir Group and a preliminary bond rating of (P) BB+ to the RSD 4.1 billion unsecured bond.
The Schoenherr team included Partners Luka Lopicic and Igor Zivkovski, Attorneys at Law Milica Zecevic, Marija Grujeska, and Pavle Eric, and Associates Milos Jokic, Isidora Grujicic, and Nadja Gogic.