Bite Group successfully completes near €1 billion bond issuance

Ellex’s Pan-Baltic team contributed expertise to Bite Group’s successful €920 million bond issue. We represented ING Bank N.V. as the agent and security agent, and Citigroup Global Markets Limited, Deutsche Bank Aktiengesellschaft, HSBC Continental Europe, J.P. Morgan SE, Swedbank AB and UniCredit Bank GmbH as lead arrangers of the transaction.

The amount borrowed on the capital market by the telecoms and media group Bite Group constitutes the largest corporate bond issue in the Baltic States’ history.

Most of the proceeds from this record bond issue company will be used to refinance existing debt and make distributions to shareholders in the form of dividends.

In the record-breaking placement, the banks were represented by the Ellex team from all three Baltic countries.

In Lithuania, Partner Giedrius Stasevičius led the project co-headed by Associate Ainis Augustas Petrulis. Expert Ignas Sidaras, Partner Marius Juonys, Associate Mykolas Tamulionis, Expert Gintaras Balčius, and Senior associate Edita Masiulė contributed to regulatory matters.

In Latvia, Associate partner Marta Cera and Senior associate Anna Mišņeva led the consultancy and were assisted by Senior associates Niklāvs Zieds. In Estonia, Partner Gerli Kivisoo led the project, assisted by Counsel Gerd Laub.