Lithuania's Maxima Grupė Meets With Investors To Discuss Bond Offering
Lithuania-based retailer Maxima Grupė has said that it is 'continuing preparations' for a potential bond offering, and is meeting senior management from potential investors from Continental Europe, the Nordics, the Baltics and the UK to discuss the next steps.
The meetings are taking place from today, 30 August, until 5 September, following which the company said that a bond offering will follow, subject to market conditions.
The planned size of the debut issue is a minimum of €300 million and the bond's maturity is set for five years. Listing is foreseen on both the Euronext Dublin and Nasdaq Vilnius Stock Exchange.
“The aim of these meetings is to personally acquaint investors with Maxima Grupė, its results and plans and bond programme, and to answer whatever questions they have," said Dalius Misiūnas, the CEO and chairman of Maxima Grupė.
"We think the fact that we’ve been given a solid credit rating will ensure attention from investors internationally as well as in the Baltic region."
In July, Standard & Poor’s assigned Maxima Grupė a BB+ credit rating, as well as a 'stable' outlook, making the business the first locally-owned private company in the Baltics to obtain an international credit rating.
Maxima Grupė has selected three banks, BNP Paribas, Deutsche Bank and SEB Bankas, to organise both the bond programme and the offering.
Based in Vilnius, Lithuania, Maxima Grupė operates Maxima retail chain in the Baltic States, the Stokrotka and Aldik chains in Poland, the T-Market chain in Bulgaria and the e-grocer Barbora in Lithuania and Latvia.
© 2018 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. Click subscribe to sign up to ESM: European Supermarket Magazine.