07/17/2025 11:29
First SLB bond from the Croatian IT sector listed on the Zagreb Stock ExchangeA contract for the listing of Span d.d. bonds on the Official Market of the Zagreb Stock Exchange has been signed.
The contract was signed by Nikola Dujmović, CEO of Span d.d., and Ivana Gažić, CEO of the Zagreb Stock Exchange, in the presence of Vedrana Jelušić Kašić, Member of the Management Board of Privredna banka Zagreb d.d., the agent for this issue.
The public offering of Span’s bond attracted significant interest from investors, with total demand reaching 35.2 million euros. The maximum planned amount of 25 million euros was allocated, in accordance with pre-defined terms. The bonds were issued with a five-year maturity, a yield to maturity of 3.85%, and a fixed interest rate of 3.75%, with semi-annual payments. The raised funds will be directed towards strategic projects, innovation development, and expanding business into international markets. The bond also includes an ESG component: Span has committed to achieving two key goals by the end of September 2029 - raising awareness of cybersecurity through the education of 500 small and medium-sized enterprises via its own Span Cybersecurity Center, and reducing absolute greenhouse gas emissions (Scope 1 and 2) by 22.5%.
Nikola Dujmović, CEO of Span, stated: The issuance of sustainability-linked bonds is more than just a financial step forward for us - it is confirmation that we think long-term, act responsibly, and build a business that leaves a positive legacy. I would like to thank everyone involved for their trust and excellent cooperation.
Vedrana Jelušić Kašić, Member of the Management Board of PBZ responsible for the Corporate and SME Division and Investment Banking said: We are pleased that Privredna banka Zagreb, part of Intesa Sanpaolo’s International Banks Division, supported this landmark transaction both as the investor and the sole issue agent. We believe that this SLB transaction will contribute to the SPAN’s continued growth and expansion across Central and Eastern Europe and Central Asia. Congratulations to Mr Nikola Dujmović, the founding shareholder and CEO of SPAN, and the entire Team on the successful issue and outstanding cooperation. We are also pleased that this SLB marks the fourth SLB issuance on the Croatian capital market in which PBZ has participated, which confirms our commitment towards innovative financial instruments and sustainable corporate operations.
We are pleased that Span, as an issuer listed on the exchange for less than four years, is taking full advantage of the domestic capital market by deciding to issue and list bonds. The trend of issuing corporate bonds, particularly those based on ESG standards, continues, making this move especially significant - not only for Span but also for the further development of the domestic capital market. After a total of four sustainable business-related bond issuances on the Zagreb Stock Exchange, three in the private sector and one in the public sector, this is the first time we have an issuance of such a bond in the technology sector, concluded Ivana Gažić, CEO of the Zagreb Stock Exchange.
Trading will begin on July 21, 2025.
(Photo: Marko Lukunić/PIXSELL)
