Minibond Initiative

Privredna banka Zagreb (PBZ), part of Intesa Sanpaolo Group's International Subsidiary Banks Division (ISBD), served as the sole issuing agent and investor for Rijekatekstil’s corporate bond. This marks the third rapid minibond issuance, a key part of ISBD’s Corporate & SME Department strategy to support Croatian businesses in accessing capital markets for growth and expansion.

The minibonds, issued on September 27, 2024, have a total nominal value of EUR 3 million and will mature in 2031. Rijekatekstil, a well-established leader in fashion retail, has long been associated with high-quality clothing and world-renowned brands. Beyond retail, the company plays a significant role in the real estate sector, serving as a key intermediary for both purchase and rental transactions.

Majda Uremović, Board Member of Rijekatekstil, commented: “We are thrilled to have entered the capital market by issuing our minibond in partnership with Privredna Banka Zagreb. Our sincere thanks go to PBZ and Intesa Sanpaolo Group for recognizing our potential as a long-term partner and being pioneers in offering this alternative financing solution, with exceptional support throughout the entire process.”

With 24 years of expertise in structuring debt and equity securities, PBZ continues to lead the way in delivering innovative financial solutions for SMEs. Minibonds, typically issued by smaller enterprises, provide a valuable avenue for growth and open doors to further capital market opportunities, including potential IPOs. This initiative significantly strengthens the domestic capital market landscape.

Vedrana Jelušić Kašić, Member of the PBZ Management Board responsible for the Corporate and SME Division, stated: “The strong momentum, with three Minibond issuances in just three months, reflects a growing interest from Croatian SMEs in alternative financing options. We are proud to support Rijekatekstil's successful transaction and remain dedicated to facilitating access to these financial instruments for future issuers, contributing to the continued development of local capital markets.”

Giuseppe Ferraro, Executive Director at Intesa Sanpaolo, Head of Corporate & SME Department - International Subsidiary Banks Division, added: “We are proud to support Rijekatekstil in their successful entry into the Croatian capital market through our Minibond Initiative. The success of this third issuance highlights the growing demand for alternative financing among SMEs, offering vital opportunities for business growth. At Intesa Sanpaolo, we remain dedicated to driving innovation and fostering local market development, empowering businesses to flourish.”