Capital Markets Experience
Advising Credit Suisse International, a leading global financial services company, in relation to EUR 142 million notes issued by the Republic of Lithuania.
Advising a leading private equity investor and Emerging Markets investment adviser on a new investment of approx EUR 27.5 million in Tallinn Stock Exchange-listed Tallink Grupp.
Advising Viking Telecom, a Swedish telecoms equipment provider, on an asset sale transaction with leading Latvian high tech company SAF Tehnika including an IPO of SAF Tehnika shares on the Riga Stock Exchange.
Advising a foreign credit institution on requirements for becoming a member of the Tallinn Stock Exchange and an account administrator of the Estonian Central Depository of Securities.
Advising PKN ORLEN, a major Central European crude oil refiner, on retaining the status of issuer with a view to squeeze-out of minority shareholders from Mažeikių Nafta.
Advising the Polish leader in bathroom suite outfitting on implementing a mandatory takeover bid following acquisition (due to merger with another Polish company, Opoczno) of a majority stake in listed Lithuanian company Dvarcioniu keramika.
Advising a leading UK based international banking group on Lithuanian capital markets requirements in relation to its takeover of major UK bank HBOS for EUR 7.6 billion.
Assisting SMS Laen, an Estonian fast loan provider, on a number of bond issues, including rolling over and restructuring an unsecured bond issue into two separate tranches, one secured by commercial pledge, the other unsecured and subordinated.
Representing former minority shareholders of Eesti Telekom, an Estonian telecom company, in claiming compensation from TeliaSonera through joint action by way of additional payment for squeezed out shares. This is the first time joint representation has been appointed in Estonia for squeezed out investors of publicly traded shares.
Advising Elering, an electricity transmission system operator in Estonia, in its successful debut London Stock Exchange-listed Eurobond issue of EUR 225 million.
Advising the London branch of Deutsche Bank, a leading global investment bank, and Nordea, the largest financial services group in the Nordic countries, as joint lead managers and joint book runners in a London Stock Exchange-listed Eurobond issue by Eesti Energia of EUR 300 million.
Advising and acting for SEB bank, a leading Latvian commercial bank, in relation to high yield bond and commercial paper issues where the client acted as arranger and security agent. SORAINEN advised the client on bond issue terms, arrangement, negotiations with investors and the Estonian Financial Supervision Authority, enforcement of collateral and insolvency of the issuer and collateral companies.
Advising a Nordic insurance group on its IPO and admission of shares to trading on the regulated securities market in Norway plus subsequent offer of shares to employees of its subsidiaries in Estonia, Latvia and Lithuania.
Advising Baltic Beverages Holding, a brewer owned by Carlsberg Group, on acquisition of shares from minority shareholders in OJSC Brewery Alivaria, one of the largest breweries in Belarus, resulting in acquisition of controlling stock in the brewery. All share purchase deals, including those related to the mandatory offer, were implemented through the Belarusian Currency and Stock Exchange.
Advising NASDAQ OMX Vilnius Stock Exchange on questions related to securities market regulation, including establishment of an alternative securities market, the possibility to lend securities in Lithuania, introduction of the euro as a settlement currency and other financial regulatory matters.
Advising NASDAQ OMX Riga on introduction of the euro on the NASDAQ OMX Riga stock exchange as a basic trading and settlement currency for securities registered in Latvia plus assessing inherent risks.
Advising Baltic Property Trust, an international real estate asset manager specialising in Central, Eastern and Northern Europe, in obtaining authorisation for operation of the first regulated closed-end real estate investment fund in Estonia.
Advising BNP Paribas, a European leader in global banking and financial services and one of the six strongest banks in the world, and JP Morgan Securities, a leading global investment bank, on Lithuanian law matters related to the issue of USD 750 million (approx EUR 540 million) notes of the Republic of Lithuania.
Advising HSBC Bank, one of the largest worldwide banking and financial services organisations, and DNB Bankas, part of DNB group and a leading participant in Lithuania's debt securities market, on Lithuanian law matters related to the issue of EUR 400 million notes of the Republic of Lithuania. The current issue supplements a previous issue of EUR 600 million notes maturing in 2018. The supplemental issue yielded less than 5 per cent after a break of more than four years for euro denominated notes.
Contributing to netting legislation in Lithuania, the first Baltic State to introduce netting legislation, in 2011, when the Ministry of Finance in cooperation with the Association of Lithuanian Banks with technical assistance from the International Swaps and Derivatives Association prepared the draft Law Amending the Law on Financial Collateral Arrangements.
Representing clients in two landmark market abuse cases in Estonia, where the clients were accused of committing market manipulation (in one instance by the state prosecutor and in the other by the Financial Supervisory Authority).
Advising Bank of America Merrill Lynch, a leading global financial management and advisory company, on a cross currency swap transaction related to Lithuanian Government USD 1.5 billion (approx EUR 1.14 billion) 6.625% Notes due 2022.
Advising Orion Asset Management, a Lithuanian investment fund management company, on establishment and registration of real estate fund ORION AGROLAND VALUE FUND I in Lithuania. Advice involved structuring the real estate fund from the tax law perspective, drafting the fund prospectus and rules, assisting on registering the fund with the supervisory authority plus drafting fund investment contract documentation.