The Elixir Group from Šabac has successfully completed its first corporate bond issue through the Belgrade Stock Exchange, marking the first primary trading of such a financial instrument in 13 years. The auction, held on April 8, saw the full issuance of 341,700 bonds valued at 4.1 billion dinars (approximately €35 million). These five-year bonds offer a six percent annual coupon with no currency clause.
Although the bonds will be traded on the secondary market, liquidity may be limited due to the participation of only ten investors on the buying side.
Elixir plans to use the funds raised to finance a new factory for producing technical monoammonium phosphate at its subsidiary, Elixir Prahovo. The facility is expected to have an annual production capacity of 50,000 tons, with production slated to begin in the first quarter of 2026.
In 2023, Elixir Group reported consolidated revenues of 57.7 billion dinars and a net profit of 3.5 billion dinars. The company’s net debt at the end of 2023 stood at 23.4 billion dinars (about €200 million).
