In April 2023 UAB Eika subsidiary UAB Partnerystės projektai keturi has issued EUR 8 million 3-year bonds to finance the defence infrastructure facility in Šiauliai. Pension and investment funds of the Baltic countries, managed by three fund management companies, invested in this non-public issue. The distribution of the issue was organized by Luminor Bank AS, Lithuanian branch.
“This is a unique bond issue, when the pension funds of the Baltic countries for the first time jointly invested directly in a development project aimed at strengthening the security infrastructure of the region. Moreover, this is the third time in as many years that our group has been trusted by capital markets investors. This time, institutional investors trusted the Eika group, which means that we have excellent opportunities to attract funds from a wider range of investors for the projects under development,” says Domas Dargis, CEO of Eika.
The issue was invested into by pension and investment funds of the Baltic countries, which are managed by three investment fund managers: UAB SEB investicijų valdymas in Lithuania, CBL Asset Management IPAS in Latvia and a third undisclosed manager of pension funds in the Baltic countries. The issue will be listed on the Nasdaq exchange, the main bond list of the Baltic regulated market. This will provide additional liquidity to the issue and, if required, pension funds would be able to trade units of this issue on the stock exchange. Listing of the issue is planned in the spring of 2024.
UAB Partnerystės projektai keturi has signed a partnership agreement with the Ministry of National Defence of Republic of Lithuania on the partial development and administration of the defence infrastructure of Šiauliai in January 2021. The duration of the partnership agreement is 15 years. In October 2022, a construction permit has been obtained and construction has begun, which is currently in full swing. The construction is planned to complete in 2024 spring.
The battalion-sized facility area in Šiauliai is expected to span 7.8 hectares. Administrative and special purpose buildings will be built: barracks, canteen, headquarters, medical center and sports facilities. Technical buildings will also be built: warehouses, garages, a gas station, a car wash, and a shed for technicians. There will also be formation and technical squares, parking spaces, including those specially adapted for electric cars and people with disabilities.
The legal advisors Cobalt Legal and Glimstedt advised on the bond issue, and the trustee of the issue is Intertrust Group.
Prospectus of the Notes and additional information:
- Prospectus
- Terms and Conditions
- Final Terms
- Guarantee
- Articles of Association of the Issuer
- Articles of Association of the Guarantor
- The consolidated unaudited interim financial statements of the Issuer for the 9 months ended 30 September 2023 (IFRS)
- The consolidated audited financial statements of the Issuer for the year ended 31 December 2022 (IFRS)
- The unconsolidated audited financial statements of the Subsidiary for the year ended 31 December 2021 (Local GAAP)
Download the reference documents Financial statements of Guarantor (Local GAAP) here:
Financial reports:
- Audit report of the Issuer for the year ended 31 December 2023 (LT)
- Audit report of the Issuer for the year ended 31 December 2023 (EN)
- The consolidated audited financial statement of the Issuer for the year ended 31 December 2023 (IFRS) in ESEF (LT)
- The consolidated audited financial statement of the Issuer for the year ended 31 December 2023 (IFRS) in ESEF (EN)