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Cobalt Advises Fern Group on EUR 8 Million Bond Issuance

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Cobalt has advised the Fern Group on its 2-year EUR 8 million public bond issuance with an offered annual interest rate of 9%.

The Fern Group is a group of engineering services and industrial construction companies controlling Montuotojas, Fern EPC, and Fern Production. According to Cobalt, "a total of 406 investors purchased Fern Group bonds, and 74% of them were from Lithuania. Interest will be paid quarterly and the bonds offered to investors are secured by a guarantee from the INVL Baltic Sea Growth Fund. The total amount of applications received was EUR 9.522 million, exceeding the supply by one-fifth."

Moreover, Cobalt reports that "the funds raised through the bonds will be used to refinance previous commitments amounting to around EUR 5 million. Fern Group will settle its debt to the State Investment Management Agency (VIVA), which has financed the activities of the group’s company Montuotojas. The other part of the money, around EUR 2.29 million, will be used for general business needs, for the growth of the group, and the implementation of its strategic objectives."

The Cobalt team included Partner Eva Suduiko.

Cobalt at a Glance

COBALT is a closely integrated alliance of top-tier law offices across the Baltics, uniting more than 250 attorneys and support staff. During 25 years of experience, we have become a strategic partner to our clients in handling both daily matters and complex large–scale transactions and disputes.

The firm’s broad spectrum of expertise and established position as the market leader gives a comprehensive basis for providing full-service business law advice.

Top international and regional businesses, financial institutions, state and local governments, and the region’s most promising start-ups are among our clients. We offer leading-edge solutions in key industry sectors: Consumer Products, Trade & Distribution, Real Estate & Construction, Pharmaceuticals & Healthcare, Energy & Utilities, Communications, Media & Technologies, Financial Services, Transport & Logistics.

COBALT has been named Baltic Law Firm of the Year 7 times receiving Chambers Europe, IFLR, The Lawyer and Mergermarket awards, and we are regularly listed amongst the top-performing M&A legal advisors in the Bloomberg, Refinitiv and Mergermarket deal tables. Recognized as the No.1 Lithuanian law firm in the Prospera Law Firm Review 2021 and No. 1 law firm in Latvia in 2022, 2020, 2019, and 2018 client satisfaction surveys. We were recognized as a Baltic-wide Law Firm of the Year at the 2022 Chambers Europe Awards ceremony and named the Baltic States Tax Firm of the Year and Pro Bono Firm of the Year at the annual ITR EMEA Tax Awards 2021 ceremony. 

More information on COBALT can be found at www.cobalt.legal.