We assisted US bank JP Morgan and French bank BNP Paribas in organising a five-year bond issue with a total value of USD 300 million for Avia Solutions Group – a Lithuanian aviation services group ‒ at an annual interest rate of 7.875% and a maturity date of 2024. The bonds were issued in US dollars and distributed in the US and European markets and, amongst other, were secured by guarantees in Latvia and Lithuania.
According to the company, the bond proceeds will be used for further business development: purchase and rental of aircraft, purchase and dismantling of aircraft engines, purchase of flight simulators.
Our services and project team
We advised JP Morgan and BNP Paribas on all matters related to the bond issue. Our team consisted of partner Tomas Kontautas, senior associates Dalia Augaitė and Rasa Mikutienė plus associate Rimantas Bendorius in Lithuania and partner Rūdolfs Eņģelis, senior associate Inese Heinacka and associate Agneta Rumpa in Latvia.