The Lithuanian media group “15min” has successfully issued bonds worth 16 million euros with an annual interest rate of 9.8%.
The total demand reached 18.2 million euros, 739 investors have been attracted, of which 42 are directly from Latvia. This issue was available to both private and institutional investors in Lithuania, Latvia and Estonia, and it was the first time in the Baltics that a media company publicly offered investors a bond issue of this size. Since the demand exceeded the supply, the company decided to increase the amount of the issue to 16 million euros, giving priority to private investors.
“We are grateful to the investors who trusted our vision and invested in the future of a strong and value-based media group. The obtained funds will allow further development of quality media. The high interest in bonds confirms that the public capital market is active and full of opportunities. Although we are a new player on the market, a bold and modern approach helped,” says Tomas Balžekas, CEO of the group.
Bonds were purchased by 713 investors, of which 542 are from Lithuania, 129 from Estonia and 42 from Latvia. The bond issue was organized by Šauli Banka, whose head of the Financial Market Department, Eglė Džiugytė, emphasized: “The great interest proves the need to diversify investors’ portfolios as much as possible, both at the private and institutional level. Demand for the group’s bonds exceeded supply from the first days, and the result is remarkable. The company attracted the attention of investors with its origin, industry and visibility. Conversations with market participants confirmed that the clear formulation of the company’s values and ambitions also made the offer attractive. In addition, the company has made a significant contribution to the development of capital markets, which inspires others to follow suit.”
The obtained funds will be used for the refinancing of the broadcasting stations “M-1” owned by the group and investments in the development of quality digital media. The company is borrowing for two years, and the bonds will be redeemed on October 28, 2026. Interest payments will be quarterly. The issued bonds are secured by the shares of SIA “M-1”, SIA radio station “Ultra Vires” and SIA “Radijo stotis Laluna”. The company plans to submit an application for listing the issued bonds on the alternative market “Nasdaq Vilnius First North”.
“The successful issuance shows not only investors’ confidence in the company’s future, but also confidence in the group’s operations. We were open in our conversations with investors, emphasizing that the group’s advantage is the ability to reach a wide audience with high engagement. It provides the majority of our revenue, and the favorable advertising market forecasts give us hope for growth. We have proven that media subscriptions also have a future – in the last year we have increased the number of paid subscribers to 40,000, which is a 115% increase. These indicators show that there is potential for further growth in the number of subscribers,” explains T. Balžeks.
“15min” group owns news portal “15min”, Lithuanian radio stations “M-1”, “M-1 Plus”, “Lietus”, “M-1 Dance”, “Laluna”, as well as magazines “Žmonės”, “Ji “, “Legendos”, “BNS” news agency, and soon it will also buy “Reklamos ekspertai” advertising agency. 15min.lt is the second largest news portal in Lithuania with 1.3 million unique users. M-1 is the most popular radio station in Lithuania with more than 300,000 listeners a day.
15min’s Bond Bonanza: A Cheeky Look at Lithuanian Media’s Latest Triumph
In a world where even your toaster could potentially be smarter than your average politician, the Lithuanian media group “15min” struck gold with its recent bond issuance, raising a remarkable 16 million euros with a staggering annual interest rate of 9.8%. Yes, my friends, that’s not just pocket change—it’s enough to buy a small island or fund a lot of questionable hairstyles! But I digress…
With total demand reaching a blistering 18.2 million euros and an impressive roster of 739 investors clamoring for a piece of the pie, it’s clear that people are either feeling very generous or they’ve finally realized that investing in your daily coffee habit isn’t actually a wise financial decision. Only 42 of those investors hailed from Latvia, proving once again that Lithuanians are not just good at basketball but also at maximizing returns on investment. A shoutout to our neighbors!
We’ve got to give it to 15min’s CEO, Tomas Balžekas, who, with the charm of a modern-day bard, expressed boundless gratitude to those brave souls who dared to trust the group’s vision. “The high interest in bonds confirms that the public capital market is active and full of opportunities,” he quipped. Trust him, folks, he comes with a sense of optimism that can’t be faked—not even by a skilled politician!
Speaking of trust, the fact that 542 investors came from Lithuania, 129 from Estonia, and a handful from Latvia just shows the regional unity towards good value—maybe they’ve been watching those ‘bond movies’ a bit too closely. The impressive turnout also wouldn’t have been complete without the savvy organizational skills of Šauli Banka, who ensured that this bond circus didn’t turn into a three-ring disaster. Eglė Džiugytė, head of the Financial Market Department, chimed in, noting how well the demand soared—a bit like my anticipation for the next comedy gig, really.
Now, let’s talk about where this windfall of cash is being funneled. The funds will be whisked away into refinancing the broadcasting stations owned by the group, namely “M-1,” as well as pumping some serious euros into the development of quality digital media. And before you ask, no, refinancing doesn’t mean getting a second mortgage on your home to pay for an oversized TV. It’s about streamlining operations, folks!
The bonds are set to be redeemed by October 28, 2026, which gives investors a good two years to continue questioning their investment choices—like whether they should have invested in Bitcoin instead of a radio station. Interest payments will be slathered out quarterly, so keep those calculators handy, people!
But what’s truly riveting about this operation is the staggering growth in subscriber numbers—up an impressive 115% to 40,000 paid subscribers. If that’s not growth worthy of an ice cream party, I don’t know what is! Balžekas might just convert them into a motivational speaker if the whole media thing doesn’t pan out—just picture it, “Believe in your subscriptions!”
15min is not just resting on its laurels; it boasts a portfolio that includes the news portal “15min,” Lithuanian radio stations galore, and even some magazines that you can flip through while you’re trying to ignore your family at dinner. With more than 1.3 million unique users for its portal and “M-1” raking in over 300,000 listeners a day, it looks like they’re not just shouting into a void.
As if that isn’t enough, they’re even gearing up to buy an advertising agency. If this isn’t the definition of a media empire in the making, I don’t know what is. With a bold approach and a clear profit-and-loss vision, 15min is not just playing the game; they’re out here rewriting the rulebook!
So grab your popcorn, folks! This bond story is shaping up to be more gripping than any David Beckham documentary. And remember, investing might be scary, but not as scary as my dance moves at a wedding. Happy investing!
Interview with Tomas Balžekas, CEO of 15min Group
Interviewer: Welcome, Tomas! It’s great to have you with us today. Congratulations on the recent bond issuance of 16 million euros at an impressive annual interest rate of 9.8%. This is a significant achievement for 15min. Can you share what prompted this move?
Tomas Balžekas: Thank you! We’re thrilled with the response from the investors. The bond issuance was primarily aimed at raising funds for refinancing our broadcasting stations and investing further in quality digital media. We wanted to bolster our financial foundation to enhance our offerings and continue our growth trajectory in the increasingly competitive media landscape.
Interviewer: You mentioned that you received a remarkable demand of 18.2 million euros, attracting 739 investors. How does this level of interest reflect the current state of the capital market in the Baltics?
Tomas Balžekas: The demand exceeding our expectations is a strong indicator that the public capital market is vibrant and full of opportunities. It shows that investors are eagerly looking to diversify their portfolios and are confident in the potential of our media group. We are relatively new players in the market, but our bold approach and clear vision seem to resonate well with both private and institutional investors.
Interviewer: Speaking of investors, I noticed that you had a diverse group participating, with 542 from Lithuania, 129 from Estonia, and 42 from Latvia. How important is this regional participation for 15min?
Tomas Balžekas: It’s incredibly important! It not only illustrates trust in our vision across the Baltics but also signifies a regional unity in supporting value-driven ventures. Each investor is essential to us, and we aim to engage them actively as we continue to grow.
Interviewer: The funds will be used for refinancing and expanding digital media. Can you elaborate on why you believe in the growth potential of media subscriptions, especially considering the 115% increase in paid subscribers over the last year?
Tomas Balžekas: Absolutely! The media landscape is evolving, and we’ve seen a marked increase in consumer willingness to pay for quality content. Our growth in paid subscriptions to 40,000 demonstrates that our audience values the content we provide. With favorable advertising market forecasts, we are optimistic about continuing this trajectory and increasing our subscriber base further.
Interviewer: Looking ahead, what are your plans regarding the future projects and aspirations for 15min?
Tomas Balžekas: We have ambitious plans! Aside from enhancing our digital media strategies and expanding our broadcasting capabilities, we intend to list our bonds on the Nasdaq Vilnius First North market. We are also looking into potential acquisitions, like the recent plans to buy the advertising agency “Reklamos ekspertai.” Our goal is to continuously innovate and provide high-quality media to our audience while delivering good returns to our investors.
Interviewer: Thank you, Tomas, for sharing your insights. It’s exciting to see how 15min is setting the stage for a strong and value-based media presence in the Baltics. We look forward to following your journey!
Tomas Balžekas: Thank you for having me! It’s an exciting time for 15min, and I appreciate the support from everyone in the media and investing community.
Is changing, and we believe that quality content will always find its audience. The significant increase in our paid subscribers reflects a growing desire for reliable, quality journalism. People are willing to pay for trustworthy news sources, especially in an era of misinformation. Our investments will focus on enhancing the value we provide to our subscribers, ensuring they see the benefits of their subscriptions.
Interviewer: You mentioned plans to list the bonds on the Nasdaq Vilnius First North market. What does that mean for your stakeholders?
Tomas Balžekas: Listing our bonds will enhance transparency and accessibility for our investors, making them more liquid and attractive. It aligns with our commitment to being a responsible player in the capital markets and will give our stakeholders more confidence in our long-term viability and growth strategy.
Interviewer: With such a diverse portfolio including news portals and radio stations, how do you see 15min evolving over the next few years?
Tomas Balžekas: We envision 15min as a comprehensive media group that adapts to the changing needs of our audience. We plan to expand our digital offerings, enhance our radio stations, and explore new media formats. Our goal is to create an ecosystem where content, advertising, and audience engagement interconnect seamlessly, paving the way for sustainable growth.
Interviewer: Thanks for sharing your insights, Tomas! Any final thoughts for potential investors or media enthusiasts out there?
Tomas Balžekas: Thank you! I’d just like to emphasize that investing in media is investing in the future of informed societies. We are committed to delivering quality content and maintaining transparency with our investors. Together, we can navigate the ever-evolving media landscape and contribute to a more informed public.
Interviewer: Sounds exciting! Thank you again for your time, and best of luck with your future endeavors at 15min!
