23 March 2022

MAXIMA GRUPĖ, UAB, a company controlling the largest food retail group in the Baltics, has successfully completed EUR 35 million Commercial Paper (Short-Term Notes) offering with 12 months tenor.

"We are well pleased to see such a strong interest in our region as well as in MAXIMA GRUPĖ. Having strong partners on board, including European Bank for Reconstruction and Development and Nordic Investment Bank, demonstrates that investments in our region remain attractive irrespective of such turbulent times we live in. We appreciate our partners for continuous cooperation – indeed we are truly successful only together“, - says Mantas Kuncaitis, the CEO of MAXIMA GRUPĖ, UAB. 

The notes were subscribed by institutional investors representing the Baltic states, Scandinavia and United Kingdom. Despite volatile market conditions, investors demonstrated strong interest and support for the securities and notes were placed at 1,064% yield.

Luminor acted as the sole arranger and bookrunner of the offering and law firm TGS Baltic advised on transaction documentation. 

“Successful placement of MAXIMA GRUPĖ Commercial Papers is a reflection of strong metrics of the issuer and resilience of the capital markets in this unstable environment. We are happy to have assisted MAXIMA GRUPĖ in this project and, while the company remains the only issuer offering securities under such format in the Baltic region, we will work towards enabling more issuers to utilize the financing opportunities that Short-Term Notes provide”, - 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.

In 2021 MAXIMA GRUPĖ, UAB, successfully placed EUR 40 million issue of Commercial Papers (Short-Term Notes) and redeemed notes on 17^th of March this year.