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Sorainen Advises Baltic Mill on EUR 3 Million Eurobond Issuance

Sorainen Advises Baltic Mill on EUR 3 Million Eurobond Issuance

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Sorainen has advised Baltic Mill, a Baltic grain processing group, on its issuance of a two-year bond with a total value of EUR 3 million that was organized by Siauliu Bankas.

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. According to Sorainen, the company has, by issuing the bond, “refinanced a two-year bond emission issued in 2017, with redemption set for 4 November 2019.”

Vygantas Reifonas, CFO of Baltic Mill, commented that “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.”

Sorainen also reports that “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.”

Sorainen's Lithuanian team included Partner Augustas Klezys, Senior Associate Dalia Augaite, and Associate Rimantas Bendorius.  

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