Sorainen has advised InMedica medical clinic network on its issuance of bonds planned for listing on First North, an alternative securities market administered by Nasdaq Vilnius.
InMedica operates a network of 19 clinics in cities across Lithuania, providing family medicine, physicians, dental and other healthcare services. The medical company is the first in Lithuania to raise funds via a public bond issue. The main purpose is to finance new development projects and acquisitions of new clinics plus refinancing of debt.
In total InMedica is seeking to borrow up to five million euros over two years. The company has already finished the first stage of the bond issue, successfully placing EUR 3 million of bonds at an annual interest rate of 5.5% and a maturity date of December 16, 2021.
Sorainen's team consisted of Partner Augustas Klezys, Senior Associate Dalia Augaite and Associate Rimantas Bendorius.