Walless has advised Vilniaus Baldai on its EUR 6 million issuance of six-year bonds. TGS Baltic advised the State Aid Fund for Business on purchasing all the bonds.
The State Aid Fund for Business is managed by Lithuania's State Investment Management Agency (VIVA).
According to Walless, "the received funds will significantly contribute to the strengthening of the company’s liquidity and ensuring the continuity of planned investments."
Vilniaus Baldai specializes in the production of light storage flat-pack furniture from honeycomb panels. The company has recently completed the first 73,000-square-meter stage of its project involving its new production facility in the Trakai District. Vilniaus Baldai's products are sold in Europe, Asia, the US, and Australia.
The Walless team included Senior Associate Enrika Tamasauskaite.
The TGS Baltic team consisted of Partners Dalia Tamasauskaite-Ziliene and Zygimantas Stankevicius and Legal Assistant Paulius Baronas.