We advised Bitė Group, the leading telecommunications and media group in the Baltics, on a EUR 920 million senior secured notes issue. The issue was a record for the Baltic States. Its distribution was very successful, with a sell-out in 3 days.

‘The senior secured notes issue we are launching today is an appraisal of the Group‘s operations and prospects. In 2020, some major global investors have chosen to invest in Bitė Group bonds, some – for the first time. We consider this as an acknowledgment and trust both in our business model, sustainable growth but also the entire so-called New Nordics region‘, Pranas Kuisys, the CEO at Bitė Group says.

Bitė Group intends to use the majority of the proceeds from the issue for refinancing of existing debt and to cover transaction costs related to the issue.

Bitė Group is a leading integrated mobile, media, fixed broadband, and Pay TV provider in the Baltics. The Group provides a full range of services, including mobile, media and content, fixed broadband and Pay TV, as well as media and content and Pay TV services in Lithuania, Latvia and Estonia. Bitė Group is managed by global private equity company “Providence Equity Partners”.

Our services and project team

In order to secure this bond issue, we assisted the client as a local counsel in Lithuania, Latvia and Estonia. Our team consisted of partners Augustas Klezys and Rūdolfs Eņģelis, counsels Jane Eespold and Vitalija Impolevičienė, senior associates Agneta Rumpa, Inese Heinacka and Kamilla Alma Vilderson and associate Andrius Pilitauskas.