Ellex Raidla and Ellex Valiunas has advised United Partners in preparation for its EUR 4.7 million bond issuance.
The bonds of UPP & CO Kauno 53 OU were admitted to trading on Nasdaq Baltic First North market on June 12, 2017. Ellex Raidla and Ellex Valiunas teams advised UPP & CO Kauno 53 in connection with the preparation of the bond documentation.
UPP & CO Kauno 53 OU is a corporate body founded by United Partners Property – a company which manages United Partners’ real estate investments. The bonds provide funding for the acquisition of Rimi's central warehouse in Lithuania.
According to Ellex, "First North is regulated as a multilateral trading facility, known as the Alternative Investment Market. This means that, although First North does not have legal status as a regulated market it operates in the Nordic and Baltic countries in parallel with the regulated market. Nasdaq decided to go to First North in order to provide investors with an easy and transparent way to sell or buy the bonds if they want to."
The Ellex Raidla team included Partner Raino Paron and Senior Associate Gerly Lohmus. The Ellex Valiunas team included Partner Joana Baublyte-Kulviete and Senior Associate Lina Radaviciene.
Editor's Note: After this article was published TGS Baltic announced that it also advised UPP & CO Kauno 53 OU on its admittance to trading on Nasdaq Baltic First North market. TGS Baltic reports that it was "acting as collateral agent and advising during the process of admission of trading to FN."