TGS Baltic has advised Valstybes Investicinis Kapitalas on a EUR 25 million note issuance. Luminor Bank was the sole manager and bookrunner.
Valstybes Investicinis Kapitalas assists medium-sized and large enterprises operating in Lithuania affected by the COVID-19 outbreak by operating a fund, created by the Republic of Lithuania, consisting of a government contribution and possible contributions from international institutions and private investors.
According to TGS Baltic, the issuance of the five-year senior unsecured notes has been done under the existing EUR 400 million program of Valstybes Investicinis Kapitalas. The notes have a nominal value of EUR 1,000 and a yield of 2.826%. “Proceeds from the subsequent notes will be used to provide additional capital to the Aid Fund for Business, which is managed by the State Investment Management Agency. The transaction took place under the private placement regime and was subscribed by Baltic institutional investors.”
According to the firm, Valstybes Investicinis Kapitalas will apply for the notes to be admitted for trading on Nasdaq Vilnius.
Last year, TGS Baltic advised Valstybes Investicinis Kapitalas on the same note program and a related EUR 30 million issuance (as reported by CEE Legal Matters on September 24, 2021).
TGS Baltic’s team included Partner Vidmantas Drizga, Senior Associates Karolina Lapinskaite and Tadas Varapnickas, and Associate Kotryna Visockyte.