TGS Baltic provided legal assistance in a private bond placement performed by the leading egg production and trading company in the Baltics - AS APF Holdings

23.02.2024 TGS Baltic provided legal assistance in a private bond placement performed by the leading egg production and trading company in the Baltics - AS APF Holdings

APF Holdings, which includes one of the largest Baltic egg producers SIA Alūksnes putnu ferma, has raised 7 million euros in a private bond issue for the implementation of its development plans. The entire bond issue volume was acquired by the Polish investment company CVI. The maturity for the bonds is set at four years.

AS APF Holdings plans to use the funds obtained from the bond issue for the implementation of the company's growth plans, which include the construction of two new laying hen sheds, the introduction of new egg product processing production lines and the construction of warehouses. Attracting such a volume of emissions allows APF Holdings to increase production by 60%.

CVI is an independent Polish investment company that currently manages 11 different funds with total assets of EUR 750 million. CVI has investments in 9 Central and Eastern European countries. Among the investors of funds managed by CVI are such world-renowned financial institutions as the European Investment Fund (EIF) and the European Bank for Reconstruction and Development (EBRD).

Since the private bond placement took place in Poland, but the issuer AS APF Holdings operates in Latvia, providing bond collateral in Latvia, legal assistance has been provided by law firm Juzala Salwa in Poland and TGS Baltic in Latvia. TGS Baltic partner Inese Hazenfusa and associate Mārtiņš Galzons provided the necessary Latvian law advice in the implementation of the transaction, working on the terms of issue and relevant collateral documents, as well as supporting the company in dealing with all legal formalities in the course of the transaction.

The debt-raising process was supported and led by M&A and capital-raising firm Oaklins Latvia.

TGS Baltic is a top-tier full-service business law firm in Latvia, Estonia, and Lithuania, employing more than 200 lawyers across the Baltics http://tgsbaltic.com/