Maxima Grupė borrowed EUR 240 mln, when implementing its EUR 1 bn EMTN programme

Ellex in Lithuania Banking and Finance practice advised Maxima Grupė in launching its new EUR 1 bn EMTN (Euro Medium Term Note) programme.

When implementing the Programme, the largest retail group in the Baltics borrowed 240 million in bonds for 5 years with 6.25% annual fixed interest rate and 6.5% yield. The notes have been subscribed by more than 20 investors from the Baltic and Nordic regions, the United Kingdom, and Poland.

Despite challenging conditions in the European debt capital market, which are affected by changes in the central banks’ monetary policies, investors demonstrated interest in the issue.

Maxima Grupė is the second corporate issuer in CEE & Baltics this year to successfully complete corporate bond transaction under the international Eurobond format.

International banks Citi, J.P. Morgan, MUFG and Luminor Group helped to launch the Maxima Grupė`s EUR 1 bn EMTN programme.

The client was advised by Banking and Finance practice team: partners Giedrius Stasevičius and Ieva Dosinaitė, associate partner Eglė Neverbickienė, associates Ainis Augustas Petrulis and Eglė Radvilaitė.