We advised Baltic Mill, a Baltic grain processing group, on its successful two-year bond issue with a total value of EUR 3 million. With this bond issue, organised by Šiaulių bankas, our client refinanced a two-year bond emission issued in 2017, with redemption set for 4 November 2019.
Comments Vygantas Reifonas, CFO of Baltic Mill: “The demand for bonds has exceeded expectations. This shows that long-term work with investors and gaining their trust have yielded results. This is the company’s third public bond issue, this time with a 4.5% annual bond interest rate. By issuing new bonds, we have maintained a diversified and efficient capital structure.”
Baltic Mill directly manages Lithuanian companies Malsena Plus, Amber Pasta, GT Innovation and Mill Kitchen, as well as Latvian Rigas Dzirnavnieks and Estonian Balti Veski.
Plans to list bonds on First North alternative market
Up to 100 physical and legal investors invested in Baltic Mill bonds, which come into effect on 4 November 2019 with a redemption date of 4 November 2021. The company also plans to list the bonds on First North, an alternative securities market managed by Nasdaq Vilnius, in the next 6 months.
Our services and project team
We advised the client on all matters related to the bond issue. We are also a Certified Adviser to Baltic Mill on the First North market in Lithuania. Our team consists of partner Augustas Klezys, senior associate Dalia Augaitė and associate Rimantas Bendorius.