WALLESS Advised VILNIAUS BALDAI in Relation to the Issue of EUR 6 Million Bonds

WALLESS advised akcine bendrove VILNIAUS BALDAI on a six-year bond issue with a total value of EUR 6 million bonds. The sole bond buyer was the State Aid Fund for Business managed by the State Investment Management Agency (VIVA).

According to VILNIAUS BALDAI, the received funds will significantly contribute to the strengthening of company’s liquidity and ensuring the continuity of planned investments.

VILNIAUS BALDAI has recently successfully completed the first stage of its project involving its new production facility in Trakai District. The new building of 73,000 square meters and valued at EUR 50 million has been built and equipped, new production lines have been installed, and furniture production has gradually started. Currently, the second stage – relocation – is in process which is expected to be completed by the end of 2022. During this stage, the company anticipates moving all the equipment from its previous production facility in Vilnius.

A new state-of-the-art manufacturing plant will wholly replace current facilities of VILNIAUS BALDAI and will consolidate VILNIAUS BALDAI operations in one location. As a result, the production process will become more efficient. It will also lead to a significant reduction of carbon dioxide emissions, energy consumption and solid waste production.

WALLESS Senior Associate Enrika Tamasauskaite assisted VILNIAUS BALDAI during the whole company’s financing process with VIVA.