TGS Baltic has advised AUGA group, AB on a bond program worth up to EUR 60 million and the issuance of EUR 20 million in green bonds in Lithuania.
Finland's Castren & Snellman and Sorainen have advised the OP Corporate Bank on its provision of financing to Finland's Veho Group for Veho's acquisition of Silberauto. Finland's Dittmar Law Firm and Ellex's three offices in the Baltic advised Veho on the financing, as they had on the acquisition itself.
Sorainen has helped JP Morgan and BNP Paribas organize a five-year bond issue with a total value of USD 300 million for Avia Solutions Group – a Lithuanian aviation services group ‒ at an annual interest rate of 7.875% and a maturity date of 2024. The bonds were issued in US dollars and distributed in the US and European markets. The Avia group was advised by TGS Baltic and Dentons.
Orrick has advised Sprint Capital on its investment in Vinted, a website marketplace for second-hand fashion. The entire investment round has a total value of EUR 128 million, with other backers including Lightspeed Venture Partners, Insight Venture Partners, Accel, and Burda Principal Investments. Taylor Wessing and Wilson Sonsini Goodrich & Rosati advised Vinted and Cooley reportedly advised Lightspeed Venture Partners on the deal.
Amazingly, the Lithuanian FinTech ecosystem report of 2018 revealed that there were 170 FinTech companies based in Lithuania – reflecting 45 percent growth over the previous year – with some 2,600 employees working in FinTech companies, more than 700 of which were newly-employed in 2018. The numbers are still growing this year.
Sorainen and Linklaters are advising the Ministry of Finance of Lithuania, the European Commission, and the EBRD on an EC-funded project aimed to promote green investment in Lithuania. The project is funded via the Structural Reform Support Programme in collaboration with the European Commission Structural Reform Support Service.