Teilor Holding's latest bond issues debut tomorrow on BVB

The latest bond issue issued by luxury jewelry chain Teilor Holding, worth a total of 4.4 million euros, debuts tomorrow on the Multilateral Trading System of the Bucharest Stock Exchange (BVB), as follows from a press release from the operator of our capital market and the company's previous reports.

The bonds are denominated in lei and euros, the one in the national currency being worth 7.4 million lei, while the value of the issue in the European currency is 2.9 million euros. The interests amount to 9.5% and 8.5% per annum, with semi-annual coupon payments. The securities are unsecured, with nominal values of 100 lei and 100 euros, respectively, with maturities of five years and 2029, respectively, given that the bonds were sold to investors through a private placement in October last year.

Teilor Holding has two bond issues listed on the BVB, with values of 6.27 million euros and 14 million lei, respectively, launched in 2021 and maturing in December 2026, with interest rates of 5.75% for those in European currency and 8.25% for those in lei. In the middle of last year, the issuer had total revenues of 239.6 million lei, 24% more than in the middle of 2023, about 60% of the revenues coming from the sale of gold jewelry and gold bars for investment. Total expenses amounted to 238 million lei, 31% more than in the previous year, while operating profit was 12.3 million lei, 21% less than in 2023. Teilor Holding recorded a negative result of 10.7 million lei from its financial activity, mainly due to expenses with unfavorable exchange rate differences and interest expenses, according to the company's latest semi-annual report.

In addition to Romania, in the middle of last year, Teilor Holding also operated in Bulgaria, Poland, Hungary and the Czech Republic. Ilie Enache owned 93% of the company while Manuela-Geanina Enache had almost 7% of Teilor Holding.