Ellex advised initial bond purchasers and mandated lead arrangers on Bite Group’s EUR 700 million bond issuance and financing
We advised initial bond purchasers and mandated lead arrangers Citigroup Global Markets Limited, Deutsche Bank AG, London Branch, ING Bank N.V., London Branch and UniCredit Bank AG on Bite Group´s EUR 700 million bond issuance and financing.
Bite Group is a telecommunications and media group based in the Baltics that is controlled by international asset management company Providence Equity Partners.
The proceeds from the bond offering, together with cash in hand, will be used to repay Bite Group’s existing financial debt and to return capital to shareholders. To secure the financing the issuer’s group will provide collateral packages in Lithuania, Latvia, and Luxemburg.
It is the largest bond issue by a private Baltic company to date.
We advised the clients in cooperation with the international law firm Latham & Watkins. The pan-Baltic team included Partner Ermo Kosk, Senior Associates Kadi Sink and Sandra Värk, Counsel Rain Raa in Estonia, Foreign Counsel Zinta Jansons, Associate Partner Valters Diure, Senior Associate Beata Plociņa and Associate Marta Cera in Latvia, Partner Giedrius Stasevičius, Senior Associate Gintarė Skrolienė, Junior Associate Ainis Augustas Petrulis, Associate Partner Miglė Petkevičienė, Associate Dovydas Gudžiūnas, Associate Paulius Vaitkevičius and Associate Edita Masiulė in Lithuania.