AS CleanR Grupa (the Group), a group of leading companies in the environmental services sector in Latvia, is launching a public bond offering across all three Baltic countries with a fixed annual interest rate of 6.5% and a four-year maturity. Through this offering, the Group aims to raise up to EUR 15 million in its first tranche. The total bond programme amounts to up to EUR 50 million and is intended for the refinancing of existing bonds and further growth in the Baltics. The subscription period will run until 11 November, and both retail and institutional investors are invited to participate in the Group’s next stage of development. The bonds are intended to be listed on Nasdaq Riga’s regulated market.
This is CleanR Grupa’s second bond issue and the first public offering. Existing investors are invited to participate in the bond exchange offer. In total, 15,000 bonds are available to investors, each with a nominal value of EUR 1,000, a fixed annual interest rate of 6.5%, quarterly coupon payments, and a four-year maturity.
The Group’s revenue structure is diversified and well-balanced across several business segments. In recent years, the Group has strategically expanded its service portfolio, reducing the share of household waste management in total revenue while retaining its leading position in this segment. CleanR Grupa operates in two core business areas: waste management and environmental services. The company provides a full waste management cycle – from collection and sorting to recycling, where waste is turned into new resources – and offers a broad range of environmental services. This vertically integrated business model ensures stability, scalability, and strong synergies across logistics, operations, and technology.
“CleanR Grupa has shown consistent growth and development. Over the past decade, the Group has completed more than eight M&A transactions, further strengthening its market position and expanding its portfolio of services. We are now ready for the next stage – to expand across the Baltics while continuing our organic growth. With this bond issue, we are offering investors an opportunity to contribute to the development of the circular economy while earning a stable, predictable financial return,” says Juris Gulbis, Chairman of the Management Board of AS CleanR Grupa.
“CleanR Grupa knows how to turn resources into resources. In the same way, investors can transform their capital into a long-term investment that combines steady financial returns with a vision for sustainable growth. It is an opportunity to be part of CleanR Grupa’s next stage of development while receiving a stable, fixed quarterly income from the investment,” says Kristiāna Janvare, Head of Investment Banking at AS Signet Bank.
The bond issue is organised by Signet Bank, with legal advice provided by law office Eversheds Sutherland Bitāns. The investors’ representative (trustee) is CSC Group (Sweden).
Investor webinar
CleanR Grupa invites investors to join a webinar, where the company will present its operations, growth plans, and bond offering, and answer participants’ questions. The webinar will be held on 30 October at 12:00 EET. (in English). Registration for the webinar is available here: https://ej.uz/webinareng.
The subscription period will open on 29 October at 10:00 and close on 11 November at 15:30 (EET). As the deadlines for submitting bond purchase orders on the final day may vary between banks or brokerage firms, investors are encouraged to contact their financial service provider to confirm the exact deadline for submitting their subscription orders.
About AS CleanR Grupa:
CleanR Grupa operates the leading companies in the environmental services sector in Latvia. It is structured around two core segments: waste management and environmental services. Together, the companies serve half a million people across Latvia every day. The group offers highly digitized environmental services, provides high-quality customer care, and demonstrates leadership in the pursuit of sustainability and circularity.
CleanR Grupa includes CleanR, a municipal waste management company; CleanR Verso, focused on industrial and construction, and demolition waste; CleanR Industry, a waste recycling business; Zaļā josta, an extended producer responsibility system provider; and Lautus, a medical and hazardous waste operator. Its environmental services portfolio comprises Vizii, a cleaning company, along with the urban servicing businesses Vizii Urban, KOM-Auto, and Tranzīts L.
CleanR Grupa has won the Best Investor Relations award of the Nasdaq Baltic Awards 2025 in the First North bond market.
AS CleanR Grupa is a 100% Latvian capital company, with Guntars Kokorevičs as its Founder and Chairman of the Supervisory Board. He has more than 20 years of experience in the environmental services industry and extensive expertise in structuring M&A transactions. Previously, he was CEO of the Riga Stock Exchange. He also serves as Vice-President of the Latvian Employers’ Confederation and is the founder and mentor of the Junior Achievement Latvia Leadership School initiative.
Disclaimer: This announcement is an unpaid marketing communication in accordance with the Prospectus Regulation and does not constitute investment advice or an offer. The information provided herein contains statements on the Public Offering of bonds of AS CleanR Grupa. Every investment decision must be based on a base prospectus approved by the Bank of Latvia and the respective final terms. An approved base prospectus and the respective final terms are available on the AS CleanR Grupa website (https://cleanrgrupa.lv/). The approval of the prospectus by the Bank of Latvia does not constitute an assessment of the issuer’s financial position or the security of the investment. Investment in financial instruments involves the risk of losing the capital invested.
More about the CleanR Group bond offering: https://cleanrgrupa.lv/en/investors/?i=obligacijas