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Ellex Valiunas Advises Baltic Sea Properties on Refinancing Loan from Luminor

Ellex Valiunas Advises Baltic Sea Properties on Refinancing Loan from Luminor

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Ellex Valiunas has assisted Baltic Sea Properties in obtaining a EUR 23.4 million refinancing loan from the Luminor bank to refinance 23 stores in Lithuania leased by the Norfa retail chain and logistics center.

Based on the signed agreement, Luminor will refinance the financial liabilities of Baltic Sea Properties held in another bank in Lithuania and will provide financing for other business needs. Baltic Sea Properties' portfolio consists of 101,000 square meters of commercial premises and is listed on Merkur Market of the Oslo Stock Exchange.

Earlier this year Ellex Valiunas advised Baltic Sea Properties on its 12-year lease of a 6500 square meter space in a logistics terminal to be built in Lithuania by the Oribalt Group (as reported by CEE Legal Matters on March 22, 2019).

The Ellex team was led by Associate Partner Julija Nikitaraviciene.

Lithuanian Knowledge Partner

COBALT is closely integrated alliance of top-tier law offices in Estonia, Latvia, Lithuania and Belarus, making us one of the largest law firms in the Baltic market. 

COBALT is a trusted partner for daily matters and complex large-scale transactions and disputes. The firm’s broad spectrum of expertise and established position as the market leader give a comprehensive basis for providing advice on special areas of business law.

We advise top international and regional businesses, financial institutions, state and local governments, and the region’s most promising start-ups. 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 6 times. We were recognized as the Most Innovative Law Firm of the Year 2019 in the Baltics at the IFLR European Awards in London. COBALT also won CEE Legal Matters Deal of the Year Award for Estonia, Latvia, and Lithuania, as well as the overall Baltic Deal of the Year, at the 2019 CEE Legal Matters Awards. We have received multiple awards from the Chambers Europe, IFLR, The Lawyer and Mergermarket and we are regularly listed amongst the top performing M&A legal advisors in the Bloomberg, Thomson Reuters and Mergermarket deal tables

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

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