We advised forestry technology company Timbro Group on the structuring of a public offering of secured bonds and the preparation of the transaction documentation. Our work included drafting the information document and negotiating the related documentation, including the subordination agreement, commercial pledge agreement, and security agent agreement, as well as supporting the client throughout the transaction process in cooperation with the other stakeholders.
The offering attracted significant interest from investors across the Baltic States. During the subscription period, orders were received from more than 500 investors for a total amount of EUR 9.9 million, exceeding the target issue size by approximately 24%. The proceeds will be used to refinance Timbro Group’s existing unsecured bonds and to support the further business development.
Timbro Group intends to apply for the admission of the bonds to trading on the Nasdaq Riga First North market no later than 12 months after the issue date.
Our team
The transaction was led by partner, sworn attorney-at-law Ramona Miglāne, who was primarily responsible for preparing and coordinating the transaction documentation. The team also included assistant lawyers Annika Līze Valtere and Evija Velvele.
