The notes were subscribed by institutional investors represented from the Baltic states, Scandinavia, as well as the United Kingdom and other European countries. Despite volatile market conditions, investors demonstrated strong interest and support for the securities and notes were placed at 1,064% yield.
This is the second issue of its kind in the Baltic region, a year ago, we advised Maxima Grupė in successfully placing EUR 40 million issue of Commercial Papers (Short-Term Notes), the notes were redeemed on 17th of March this year.
Partner Vidmantas Drizga, Associate Partner Mantas Gofmanas and Associate Elvinas Kižys advised the client on all legal issues.
Maxima Grupė owns the retail chains Maxima (in the Baltic countries), Stokrotka (in Poland), and T-Market (in Bulgaria), as well as e-grocer Barbora operating in the Baltics and Poland.
The company is part of the Vilniaus Prekyba group, which controls and manages the group of subsidiary companies operating chains of retail stores and pharmacies as well as real estate development and property management companies in the Baltic States, Sweden, Poland and Bulgaria.