Vidmantas Drizga

TGS Baltic – together with Dentons – advised the Republic of Lithuania on borrowing in total EUR 1.2 bilion in international capital markets

Together with the international law firm Dentons, we advised the Republic of Lithuania on two benchmark bond transactions:

• The issuance of EUR 900 million 4.125% Notes due 2028,
• EUR 300 million tap of existing EUR 670 million 2.125% Notes due 2032.

Snoras bank's insolvency administrator has signed a 105-million-euro settlement agreement with the Swiss bank Julius Baer

TGS Baltic’s team assisted Snoras Bank’s insolvency administrator in reaching a settlement agreement with Swiss bank Julius Baer. The agreement which has been signed states that Julius Baer & Co Ltd will pay BAB Bankas Snoras EUR 105 million.

TGS Baltic advised Valstybės investicinis kapitalas on a EUR 25 million note issue 

Valstybės investicinis kapitalas UAB issued EUR 25 million 5-year senior unsecured notes under the EUR 400 million Programme. The notes have a nominal value of EUR 1,000 and a yield of 2.826%. 

TGS Baltic advised EPSO-G, which was the first in the Baltics to issue sustainability bonds

Advised EPSO-G, which was the first in the Baltics to issue sustainability bonds. The project is significant for the entire Baltic capital market, as the interest rate of the bonds was the first linked to compliance with ESG requirements.

TGS Baltic – together with Dentons – advised the Republic of Lithuania on EUR 650 million bond issuance

Together with the international law firm Dentons, we advised the Republic of Lithuania on issuance of 10-year EUR 650 million bond issue in international capital markets. The issue will pay 2.125 percent annual interest.

TGS Baltic advised AUGA Group and its main shareholder on the delisting of the company's shares from the Warsaw Stock Exchange and implementation of a respective mandatory tender offer

TGS Baltic advised AUGA Group and its main shareholder on the delisting of the company's shares from the regulated market on the Warsaw Stock Exchange and the implementation of a mandatory tender offer aiming the delisting the company's shares from trading on the regulated market.

TGS Baltic advises Maxima Grupė on structuring the Commercial Paper Programme

TGS Baltic has successfully advised Maxima Grupė in structuring the Commercial Paper Programme and the issuance of EUR 35 million of notes under the programme.

TGS Baltic advised Civinity, one of the leading facility management and engineering groups in the Baltic States, on a EUR 8 m bond issue

We advised Civinity, one of the leading commercial and residential facility management experts in the Baltic States, on the successful public offering of bonds in a total value of EUR 8 million, which attracted almost 70 private and institutional investors.

TGS Baltic advised Šiaulių Bankas in approving the EUR 250 mln. Euro Medium Term Note Programme and distributing the first EUR 75 mln. Notes issue under the programme

We advised Šiaulių Bankas in approving the EUR 250 mln. Euro Medium Term Note Programme and its base prospectus as well as in distributing a EUR 75 mln. Restricted Senior Preferred Notes issue under the programme and the base prospectus. The issued notes will be soon admitted to trading on AB Nasdaq Vilnius in the debt securities trading list.

TGS Baltic advised UAB Valstybės investicinis kapitalas, which invests into the Lithuanian Aid for Business Fund, in approval of EUR 400 million state-guaranteed note program and placement of the inaugural EUR 30 million issue

TGS Baltic is proud at having had the opportunity to contribute to the successful approval of EUR 400 million state-guaranteed note program of UAB Valstybės investicinis kapitalas, a limited partner of the Lithuanian Aid for Business Fund, and placement of the inaugural EUR 30 million issue under the program. This is the first issue of corporate notes with a state guarantee in the Baltic States.

TGS Baltic – together with White&Case – advised Avia Solutions Group on attracting EUR 300 million of investments from Certares Management LLC

We advised Avia Solutions Group (ASG), a leading global aerospace services group, on entering into a strategic partnership with investment specialist dedicated to the travel, tourism, and hospitality sectors Certares Management LLC (Certares) through a EUR 300 million structured equity investment in the Group.

TGS Baltic advised the Ministry of Finance of the Republic of Lithuania in EUR 750 million Eurobond issue

We advised the Ministry of Finance of the Republic of Lithuania in structuring and issuing a Eurobond issue worth EUR 750 million for a period of 30 years. This issue will bear 0.75% annual interest.

TGS Baltic advised shareholders on the sale of the startup LastMile to Iki, one of the largest retail companies in Lithuania 

We are pleased to have advised LastMile shareholders on the sale of the online retailer-startup LastMile to Iki, one of the largest retail companies in Lithuania.

TGS Baltic advised Akropolis Group on EUR 300 million Eurobond issue

We advised Akropolis Group, the leading shopping and entertainment centre development and management company in the Baltic States, on EUR 300 million Eurobond issue.

TGS Baltic advises Maxima Grupė on structuring the Commercial Paper Programme and the EUR 40 million issuance of notes under the programme – the very first transaction under such format in the Baltics

TGS Baltic has successfully advised Maxima Grupė controlling the largest food retail group in the Baltics in structuring the Commercial Paper Programme and the issuance of EUR 40 million of notes under the programme.

TGS Baltic advised Evernord on obtaining a category B licence of a financial brokerage firm

We advised Evernord – an investment firm based in Vilnius, Lithuania – on obtaining a category B licence of a financial brokerage firm.

TGS Batic advised The Bank of New York Mellon on the largest-ever IPO in the Baltics by Ignitis Group

TGS Baltic advised The Bank of New York Mellon on implementing AB Ignitis grupė’s initial public offering (IPO) of shares and global depositary receipts representing the shares (GDR), including admitting to trading in GDR on the London Stock Exchange.

TGS Baltic advised the Ministry of Finance of the Republic of Lithuania in EUR 1.75 billion Eurobond issue

TGS Baltic advised the Ministry of Finance of the Republic of Lithuania in making 30-year Eurobond issue at the 0.5 percent annual interest rate. These are the most favourable terms ever that Lithuania was granted in making issues of such duration. The Eurobonds have been distributed at 0.637 percent profit rate, the issue price is equal to 96.27 percent of their face value.

TGS Baltic advised Ignitis group on the approval of the renewed EUR 1.5 billion bond program and making an issue of EUR 300 million according to it

TGS Baltic advised Ignitis group on the approval of the renewed EUR 1.5 billion medium-term debt securities program and bond issuance of EUR 300 million according to the programme.

TGS Baltic advised the Ministry of Finance of the Republic of Lithuania in issuance of two issues of Eurobonds for a record amount of EUR 2 billion

TGS Baltic advised the Ministry of Finance of the Republic of Lithuania in structuring and issuing two issues of Eurobonds for the total value of EUR 2 billion.

TGS Baltic advised Šiaulių bankas on its 20 MEUR bond listing on Nasdaq Vilnius

TGS Baltic advised Šiaulių bankas on listing on Debt Securities List of Nasdaq Vilnius non-publicly issued 20 MEUR of subordinated bonds, which will soon be admitted to trading on this regulated market.

TGS Baltic advised Viada LT, the biggest chain of gas stations in Lithuania, in making a public offering of bonds

TGS Baltic advised Viada LT in making the issue of bonds for over EUR 1 million. The subscribed bonds are soon to be admitted to trading on the alternative stock exchange First North.

AUGA group, AB continued success in capital markets – it finalised a public offering of green bonds

TGS Baltic advised AUGA group, AB in approval of the bond programme for up to EUR 60 million and issue of the first green bonds issue in the amount of EUR 20 million according to the programme. The issued bonds are soon to be admitted to trading on AB Nasdaq Vilnius.

It is the first instance of issuing green bonds by private equity companies in the Baltics. Also, according to value and the number of investors, it is one of the biggest issues on Nasdaq Baltic exchange.

TGS Baltic advised Avia Solutions Group in structuring and issue of bonds for the nominal value of USD 300 million

TGS Baltic advised Avia Solutions Group in structuring and issue of 5-year bond issue for the nominal value of USD 300 million. The bonds will soon be admitted to trading on the Irish stock exchange. The bonds will yield 7.875 percent annual interest.

TGS Baltic advised the Ministry of Finance of Lithuania on two eurobond issues with a total value of EUR 1.5 billion

TGS Baltic advised the Ministry of Finance of the Republic of Lithuania in structuring and conducting two issues of eurobonds for a total value of EUR 1.5 billion.

TGS Baltic advises EPSO-G on main corporate governance matters

EPSO-G is a state-owned holding company for Lithuanian gas TSO (Ambergrid) and electricity TSO (LITGRID). EPSO-G, in accordance with the goals laid down in the National Energy Independence Strategy and in other legal acts, implements strategic tasks of developing the country’s gas and electricity infrastructure, integrating it into EU energy markets, and seeks to implement the goals of the Energy Union. 

TGS Baltic advised Šiaulių Bankas in the admission of a EUR 20 million bond issue to trading on Nasdaq Vilnius

The bonds were admitted to trading on the said regulated market at the beginning of December.

TGS Baltic advised Avia Solutions Group and its shareholders on delisting the company's shares from the Warsaw Stock Exchange

In addition to TGS Baltic, the company and its shareholders were also represented in this transaction by the international law firm Dentons Europe Dąbrowski i Wspólnicy sp. k.

TGS Baltic advised MAXIMA GRUPĖ, UAB in placement of the largest note issue by a private equity company in the Baltic States

TGS Baltic advised MAXIMA GRUPĖ, UAB in approval of EUR 1 billion medium-term note program and making a note issue of EUR 300 million according to it. The subscribed notes will soon be admitted to trading on the Irish stock exchange (Euronext Dublin) and AB Nasdaq Vilnius. That is the largest note issue by a private equity company in the Baltic States.

TGS Baltic advised AUGA group, AB in successfully implementing the largest public secondary stock in Lithuania

TGS Baltic advised AUGA group, AB and its largest shareholder, Baltic Champs Group, UAB, in implementing a secondary public offering (SPO) of shares in the company in Lithuania, also in admitting the new shares to trading on the Polish and Lithuanian regulated markets (on the Warsaw Stock Exchange and AB Nasdaq Vilnius), and transferring all its shares from the Additional Trading List to the Official Trading List.

TGS Baltic advised UAB Medicinos bankas in approving the bond programme of up to EUR 10 million and placing the first over EUR 2.2 million emission under the programme

TGS Baltic advised UAB Medicinos bankas in approving the subordinated bond programme of up to EUR 10 million and placing the first over EUR 2.2 million bond emission under the programme. In the beginning of August, the placed bonds must also be admitted to trading on AB Nasdaq Vilnius. UAB FMĮ Orion securities acted as the bank’s intermediary for placement of the issue.

TGS Baltic advised AviaAM Leasing and its shareholders on delisting the company shares from the trading on the Warsaw Stock Exchange

TGS Baltic advised AB AviaAM Leasing and its certain shareholders on delisting the shares of the company from the trading on the regulated market on the Warsaw Stock Exchange. This is the first case of this kind when the shares of a Lithuanian issuer whose shares are traded on a foreign regulated market are delisted from it.

Advised UAB Lietuvos Energija in approving the medium term note program

TGS Baltic advised UAB Lietuvos Energija in approving the medium-term note program, which has been upsized to EUR 1.5 billion and issuing a EUR 300 million bond issue under the program. Since 11 July 2018, the placed bonds have been admitted to trading on the Luxembourg Stock Exchange and AB Nasdaq Vilnius. It is one of the largest transactions of this kind in the Baltic States.

TGS Baltic advised LRT (National Broadcaster of Lithuania)

TGS Baltic advised LRT, a national broadcaster on acquisition of new content management system and software for its webpage and media archive, that now is accessible via the internet and other all content broadcasted by two channels LRT and LRT KULTURA as well as other original content. The matter related to the consultations of structuring of the transaction, IP acquisition matters, publishing matters in the internet and other.

TGS Baltic represented Credit Value Investments in investing EUR 11 million in Civinity bonds

TGS Baltic represented Credit Value Investments and funds managed by it in investing in bonds of AB Civinity, by structuring the bond issue and creating the issuer’s related necessary instruments for ensuring the performance of obligations.

Secondary offering of shares of AB Avia Solutions Group worth over EUR 15 million successfully completed

TGS Baltic was a legal advisor to AB Avia Solutions Group (the “Company”) with regard to offering newly issued shares of the Company to select investors and their admission to trading on the Polish regulated market, ie. on the Warsaw Stock Exchange. 

Advised AB Avia Solutions Group

Advised AB Avia Solutions Group - an international aviation holding company that has over 40 subsidiaries worldwide - in its cross-border merger to a subsidiary in Cyprus.

During the bankruptcy of Ūkio bankas, advised State Company Deposit and Investment Insurance

During the bankruptcy of AB Ūkio bankas, advised State Company Deposit and Investment Insurance in transferring good bank from AB Ūkio bankas to AB Šiaulių bankas, a Lithuanian bank with the European Bank for Reconstruction and Development among its shareholders. Participated in structuring the transaction and coordinating the approval of the transaction by the Ministry of Finance of the Republic of Lithuania.

Advised Baltic Champs Group

Advised Baltic Champs Group, UAB, the largest mushroom producer in the Baltics, in structuring and implementing a merger with AB Agrowill Group, a major agricultural goods producer in Lithuania, the securities of which are listed in NASDAQ OMX Vilnius and Warsaw Stock Exchange. The transaction was the first of such type in Lithuania.

Advised the bankruptcy administrator in bankruptcy procedures of Ūkio bankas

Advised the bankruptcy administrator in bankruptcy procedures of AB Ūkio bankas. Advised the client on day-to-day activities, assisted in the coordination of asset recovery processes in Lithuania and abroad as well as in coordination of closing of representative offices of the bankrupt bank established abroad and other matters.

Advised the bankruptcy administrator in bankruptcy procedures of bank Snoras

Advised the bankruptcy administrator in bankruptcy procedures of AB bankas Snoras. Advised on day-to-day activities, sale and recovery of the assets of the bank as well as other various matters.

Advised INVL Technology

Advised AB INVL Technology on successfully completed public offering of shares with the total issue price of over EUR 10 million and admission thereof to trading on AB NASDAQ OMX Vilnius.

Advised City Service, a company managing a group of undertakings engaged in facility management and integrated utility services in Europe

Advised City Service, a company managing a group of undertakings engaged in facility management and integrated utility services in Europe, in implementing a cross-border merger, on establishment of a European Company (Societas Europaea, SE) and admission of its shares to trading on the Warsaw Stock Exchange.

Advised INVL Technology on the transformation of a listed company into a licensed special closed-ended investment company

Advised AB INVL Technology on the transformation of a listed company into a licensed special closed-ended investment company for the first time in the Baltic States.

Advised joint bookrunners Dom Maklerski PKO Banku Polskiego w Warszawie, Swedbank and Trigon Dom Maklerski

Advised joint bookrunners Dom Maklerski PKO Banku Polskiego w Warszawie, Swedbank, AB and Trigon Dom Maklerski S.A. in performance of the initial public offering (IPO) of AB Novaturas in Lithuania, Poland and Estonia, also admitting its shares to trading on the Polish and Lithuanian regulated markets.