Akropolis Group refinanced loans from subsidiaries in banks using part of the funds raised in the course of the Eurobond issue.



Akropolis Group, a leading retail and entertainment center development and management company in the Baltic States, has provided loans to three subsidiaries in accordance with the capital utilization targets set out in the € 300 million bond prospectus (UAB Taikos turtas, UAB Aido turtas and SIA M257, respectively, governs Kaipeda Acropolis, Siauliai Acropolis and Riga Acropolis). The funds provided by Akropolis Group were used to cover the liabilities of subsidiaries in the Lithuanian branch of AS Citadele banka (UAB Taikos turtas, UAB Aido turtas) and AS SEB banka (SIA M257). Loans from commercial banks were refinanced in the total amount of 135.1 million euros.

Akropolis Group, which manages the largest shopping centers in Lithuania, has successfully placed its debut 5-year Eurobond issue in the amount of EUR 300 million. These bonds are listed on the Nasdaq Vilnius and Dublin Euronext stock exchanges. The UAB Akropolis Group Eurobond issue was placed with an annual coupon rate of 2.875%, an annual yield of 3.00% and a re-offer price of 99.428%. The bonds are rated BB + Fitch and BB + S&P. The bonds mature on June 2, 2026.

Acropolis Group is rated BB + (negative) by S&P and BB + (stable) by Fitch. During its debut Eurobond placement, Akropolis Group worked with banks BNP Paribas, JP Morgan and Luminor as coordinators and organizers of the bond program. The legal consultants of Akropolis Group were Clifford Chance LLP, which was the leading legal consultant, and TGS Baltic, which advised on the legislation of Lithuania and Latvia. Linklaters LLP and Walless acted as legal advisors to the banks. Akropolis Group’s auditor is PricewaterhouseCoopers.


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