TGS Baltic and Clifford Chance have advised Baltic shopping and entertainment developer Akropolis Group on a EUR 300 million Eurobond issuance. Walless and Linklaters advised global coordinators and joint book-runners BNP Paribas and J.P. Morgan.
According to TGS Baltic, the “Akropolis Group became the first issuer in the real estate sector in the Baltic States to successfully raise funds in the international Eurobond format. The bonds will be listed on Euronext Dublin as well as on Nasdaq Vilnius stock exchanges.” According to the firm, "more than 50 investors participated in the placement of bonds, and the final list of investors included asset managers from all over continental Europe and the United Kingdom. The proceeds from the issue will be used to refinance existing loans and the company's general needs, including group development."
TGS Baltic’s Lithuanian team included Partners Vidmantas Drizga, Robertas Degesys, Andra Rubene, and Nauris Grigals, Associate Partner Mantas Gofmanas, Senior Associate Karolina Lapinskaite, Associate Anna Vaivade, and Legal Advisor Kotryna Visockyte.
Walless’s team included Partners Joana Baublyte Kulviete, Mindaugas Lukas, Inguna Abele, and Zane Eglite Fogele, Associate Partner Laurynas Narvydas, and Senior Associates Enrika Tamasauskaite and Kristine Sakarne.