TGS Baltic has advised Maxima Grupe on structuring its Commercial Paper Program and a EUR 35 million issuance of notes under the program.
Maxima Grupe owns retail chains Maxima in the Baltics, Stokrotka in Poland, and T-Market in Bulgaria, as well as e-grocer Barbora operating in the Baltics and Poland. It is part of the Vilniaus Prekyba group operating chains of retail stores and pharmacies as well as real estate development and property management companies in the Baltics, Sweden, Poland, and Bulgaria.
According to TGS Baltic, “the notes were subscribed by institutional investors from the Baltic states, Scandinavia, as well as the United Kingdom and other European countries. Despite volatile market conditions, investors demonstrated strong interest and support for the securities and the notes were placed at a 1,064% yield.”
A year ago TGS Baltic advised Maxima Grupe on a EUR 40 million issuance of Commercial Papers (as reported by CEE Legal Matters on March 22, 2021).
TGS Baltic’s team in Lithuania included Partner Vidmantas Drizga, Associate Partner Mantas Gofmanas, and Associate Elvinas Kizys.
TGS Baltic did not reply to our inquiry on the matter.
