Romanian agricultural company Agroserv Măriuța, owner of the Lăptăria cu Caimac brand, announced the launch of a private placement for a new corporate bond issue with a value of up to EUR 3 million on Tuesday, October 28.
Denominated in euros, the bonds will have a nominal value of EUR 100 each, a fixed annual coupon of 9.5%, and a maturity of three years, until 2028. Interest will be payable on a quarterly basis.
The new issue is a guaranteed bond, a rarity on the local capital market, backed by a mix of real estate and receivable pledges.
The proceeds will be primarily used to refinance the company’s existing EUR 3 million MILK25E bonds issued in 2020, while also supporting the company’s financial flexibility and long-term growth strategy.
The offer will open on October 28, 2025, and run until October 30, 2025, and will be carried out as a private placement addressed to a maximum of 149 retail investors and to qualified investors, in line with applicable EU regulations.
“Over the past years, Agroserv Măriuța has proven its resilience and capacity to grow in a competitive market. In the first half of 2025, we recorded sales of RON 50.6 million, up 20% year-on-year, and achieved a net profit of RON 3.4 million, reversing the loss from the same period in 2024,” stated Cornel Dănilă, CEO of Agroserv Măriuța.
The company’s dairy factory remains the main growth driver. “The refinancing of the MILK25E bonds continues the use of capital markets financing that we first accessed in 2020, when investor support allowed us to expand the processing facility with a hall dedicated to cheese maturation and butter production,” Dănilă added.
The transaction will be intermediated by BT Capital Partners. The new issue, traded under the symbol MILK28E, will be guaranteed through a mortgage over 53 plots of agricultural land and 2 plots of land with a total area of over 70 hectares, with an estimated market value of EUR 733,200 according to an independent valuation conducted in October 2025, as well as a movable mortgage over receivables arising from a supply contract with a major retail chain in Romania.
In addition, Agroserv Mariuta commits to bringing additional collateral, up to at least 100% of the value of the issue, by the end of 2026, when the distribution contract with the retail chain expires. Should this condition not be met, bondholders will have the right to request early redemption starting from January 1, 2027.
Agroserv Măriuța was founded in 1994 and is today one of the few fully integrated agribusiness companies in Romania, combining crop farming, livestock, and milk processing. The company operates approximately 2,800 hectares of farmland and manages a herd of over 3,000 Holstein Friesian cattle, producing around 40 tons of raw milk per day.
In 2024, Agroserv Măriuța generated revenues of 89.2 million lei, up 12% compared to 2023, supported mainly by the dairy division. In the first half of 2025, the company reported an operating profit of RON 7 million, up 303% compared to the previous year, and a net profit of RON 3.4 million, compared to a net loss of RON 0.6 million in H1 2024.
(Photo source: press release)
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