Phone number +370 669 00118 E-mail info@maximagrupe.eu

News

MAXIMA GRUPĖ, second in CEE & Baltics this year, successfully completed EUR 240 million Eurobond issue

2022 07 04


MAXIMA GRUPĖ, UAB, a company controlling the largest food retail group in the Baltics with a rating of BB+ (Stable Outlook) by S&P, issued EUR 240 million 5-year senior unsecured notes under its EMTN Programme.  

The notes were subscribed by institutional investors representing the Baltic states, Nordics, United Kingdom, and Poland. Despite challenging market conditions, investors demonstrated interest and support for the securities and notes were placed at 6.25 interest rate (6.5 yield). The notes shall be listed in Euronext Dublin and the operators of the regulated market of Nasdaq Vilnius.

"Last week showed significant market interest towards our business, which lead us to finish the project, having more than twenty investors on board, and more than half of the amount coming internationally. I am very delighted to see the continuous credence of the investors towards us. At the same time, this is a strong message of confidence in the security and prospects of the entire region, in light of the war that started in Ukraine on 24th February. Having strong partners, such as European Bank for Reconstruction and Development, Luminor, PKO BP, SEB, Swedbank and others, encourages us to keep up with our current direction, and to improve us even further. I would like to especially thank the finance team of Maxima Grupė – Head of Treasury Laimonas Bazys, CFO Povilas Šulys, Karolina Zygmantaitė, who previously held this position, and the team members of other divisions who contributed to this great achievement in unusual times.“ - says Mantas Kuncaitis, the CEO of MAXIMA GRUPĖ, UAB.                   

Citi, J.P. Morgan, Luminor and MUFG acted as Joint Bookrunners of the offering. The legal advisors of Maxima Grupė were Clifford Chance LLP, which was leading legal advisor of Maxima Grupė, and Ellex Valiūnas, which advised Maxima Grupė in respect of Lithuanian law. The legal advisors of the Banks were Linklaters LLP and TGS Baltic.

„European credit markets are facing a very challenging backdrop, while adapting to new interest rate environment caused by a radical change of monetary policy. In addition to this, top grade issuers from Central and Eastern European region are facing challenges attracting international investors due to still heavy geopolitical situation. Knowing the environment and circumstances we can take pride in the result. Transaction by Maxima Grupė is the second successfully completed corporate bond transaction under the international Eurobond format from CEE & Baltics in 2022 after Czech energy giant CEZ. Appropriate decisions, timely made during the book building process as well as relations with anchor investors enabled to generate highest volume possible still maintaining the acceptable borrowing rate.” - says Paulius Žurauskas, the Head of Markets at Luminor group.

 

Additional information 

MAXIMA GRUPĖ, UAB, owns the retail chains Maxima (in the Baltic countries), Stokrotka (in Poland), and T-Market (in Bulgaria), as well as e-grocer Barbora operating in the Baltics and Poland.

The company is part of the Vilniaus Prekyba group, which controls and manages the group of subsidiary companies operating chains of retail stores and pharmacies as well as real estate development and property management companies in the Baltic States, Sweden, Poland and Bulgaria.

  

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OF AMERICA, CANADA, AUSTRALIA, JAPAN OR IN ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL. THIS ANNOUCEMENT IS ALSO NOT ADDRESSED TO ANY PERSON WHO IS A RETAIL CLIENT (AS DEFINED IN DIRECTIVE 2014/65/EU OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL OF 15 MAY 2014 ON MARKETS IN FINANCIAL INSTRUMENTS AND AMENDING DIRECTIVE 2002/92/EC AND DIRECTIVE 2011/61/EC (RECAST)).