Lithuania's Bite Lietuva marketing €300 million two-part note offering

By Paul A. Harris

St. Louis, Feb. 27 - Lithuania's Bite Lietuva is marketing a €300 two-part offering of notes, according to a market source, who added that Deutsche Bank is leading the deal.

Issuing via special purpose vehicle Bite Finance International BV, the Vilnius, Lithuania-based company is offering €185 million of senior secured notes (/B/B) and €115 million of subordinated floating-rate notes (/CCC+/CCC+).

The roadshow is in London through Wednesday and moves on to Paris and Frankfurt on Thursday.

Proceeds will be used to fund the acquisition of the company by an investor group led by Mid Europa Partners.

Bite is a wireless communications operator with operations in Lithuania and Latvia.

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