Advertisement
UK markets close in 7 hours 18 minutes
  • FTSE 100

    7,955.61
    +23.63 (+0.30%)
     
  • FTSE 250

    19,785.42
    -25.24 (-0.13%)
     
  • AIM

    741.79
    -0.32 (-0.04%)
     
  • GBP/EUR

    1.1680
    +0.0011 (+0.09%)
     
  • GBP/USD

    1.2598
    -0.0040 (-0.31%)
     
  • Bitcoin GBP

    56,220.54
    +875.89 (+1.58%)
     
  • CMC Crypto 200

    885.54
    0.00 (0.00%)
     
  • S&P 500

    5,248.49
    +44.91 (+0.86%)
     
  • DOW

    39,760.08
    +477.75 (+1.22%)
     
  • CRUDE OIL

    81.83
    +0.48 (+0.59%)
     
  • GOLD FUTURES

    2,214.20
    +1.50 (+0.07%)
     
  • NIKKEI 225

    40,168.07
    -594.66 (-1.46%)
     
  • HANG SENG

    16,541.42
    +148.58 (+0.91%)
     
  • DAX

    18,490.32
    +13.23 (+0.07%)
     
  • CAC 40

    8,236.81
    +32.00 (+0.39%)
     

Eurobonds of Akropolis Group have been listed on Euronext Dublin and Nasdaq Vilnius stock exchanges

AKROPOLIS GROUP UAB

Eurobonds of Akropolis Group have been listed on Euronext Dublin and Nasdaq Vilnius stock exchanges
Eurobonds of Akropolis Group have been listed on Euronext Dublin and Nasdaq Vilnius stock exchanges
Eurobonds of Akropolis Group have been listed on Euronext Dublin and Nasdaq Vilnius stock exchanges

The eurobonds of the debut EUR 300 million 5-year issue of Akropolis Group, the biggest manager of shopping centres in Lithuania, which was successfully distributed last week, have been listed on Euronext Dublin and Nasdaq Vilnius stock exchanges.

Eurobonds of the company have become available to investors on the Irish stock exchange Euronext Dublin. The name Akropolis Group has also shined on the screen of the Nasdaq tower in New York’s Times Square, following the announcement of the start of trading in the company’s bonds on Nasdaq Vilnius exchange in Lithuania.

ADVERTISEMENT

The double listing of the eurobonds was chosen because of several reasons. Dublin Euronext is one of the main markets for eurobonds, opening up more opportunities for foreign investors and giving the company a possibility to be more visible internationally. The bonds were also simultaneously listed on Nasdaq Vilnius exchange, allowing local investors to expand and diversify their investment portfolios and bringing more interest and activeness to the Lithuanian capital market.

The eurobond issue of UAB Akropolis Group, the leading shopping and entertainment centre development and management company in the Baltic countries, was distributed with a 2.875% annual coupon rate, 3.00% annual yield and re-offer price of 99.428%. The bonds have BB+ Fitch and BB+ S&P ratings. The bonds mature on 2 June 2026.

The offering of Akropolis Group bonds, which has become a historic step, is the first transaction of its kind in the whole Baltic real estate (RE) sector, as the company has become the first issuer in the RE sector that has successfully raised funds in the form of international eurobonds. Successful offering of the bonds confirms the maturity of Akropolis Group and the trust of international and local investors. Diversification of funding sources will allow the company to continue focusing on further growth of the group.

The proceeds of the bonds issue will be used for refinancing of existing indebtedness and for general corporate purposes, including the group’s expansion.

Most investors attracted by the bonds issuance transaction were from the Baltic and Northern countries, the United Kingdom, Germany and other European countries. Asset managers, banks and multilaterals were among the investors.

Akropolis Group has BB+ (negative) by S&P and BB+ (stable) by Fitch. During its debut eurobond offering, Akropolis Group cooperated with banks BNP Paribas, J.P. Morgan and Luminor, as coordinators and bookrunners of the bond programme. The legal advisors of Akropolis Group were Clifford Chance LLP, which was leading legal advisor, and TGS Baltic, which advised in respect of Lithuanian and Latvian law. The legal advisors of the Banks were Linklaters LLP and Walless. The auditor of Akropolis Group is PricewaterhouseCoopers.

Attachment