Chicago, July 5 – Maxima Grupe, UAB completed a downsized sale of €240 million of 6¼% five-year eurobonds (BB+), according to an announcement.
The bonds priced with a 6½% yield.
The company cited challenging market conditions during pricing.
Demand came from more than 20 investors, with more than half of the amount coming internationally.
Joint bookrunners on the Regulation S deal were Citigroup, JPMorgan, Luminor and MUFG.
The bonds will be issued under the company’s new medium-term note program.
Proceeds will be used to refinance existing debt and for general corporate purposes.
Maxima Grupe 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.
| Issuer: | Maxima Grupe, UAB
|
| Amount: | €240 million
|
| Issue: | Eurobonds
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| Tenor: | Five years
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| Bookrunners: | Citigroup, JPMorgan, Luminor and MUFG
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| Counsel to issuer: | Clifford Chance, LLP and Ellex Valiunas
|
| Counsel to underwriters: | Linklaters LLP and TGS Baltic
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| Coupon: | 6¼%
|
| Yield: | 6½%
|
| Announcement date: | July 4
|
| Rating: | S&P: BB+
|
| Distribution: | Regulation S
|
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