LPKS LATRAPS launches a public bond offering in which Baltic private and institutional investors are invited to participate, announcing the subscription period from 26 November 2024.
The purpose of the agricultural cooperative bond issue is to raise funds for the establishment of SIA ASNS Ingredient, the most modern production plant for pea protein isolate in Northern Europe. Within the scope of this project, it is planned to start the construction of the plant still this year.
The production process of pea isolate is technologically very complex and investment intensive. In addition to the construction of the plant, the external partners of ASNS Ingredient will also develop heat and energy supply, water treatment and biogas production, which will be as outsourced services. Thus, the total investment in the project will reach more than 150 million euros.
During the public bond offering in Latvia, Lithuania, and Estonia, LPKS LATRAPS will offer to private and institutional investors 8,000 bonds, each with a nominal value of EUR 1,000, an annual fixed interest rate of 7.5%, and a maturity of four years. The bond issue arranger is Signet Bank.
TGS Baltic team provided legal services in relation to the public issue of bonds, including working on the drafting of offering documents in English and representation of the client before Nasdaq Riga and Nasdaq First North.
Partner Inese Hazenfusa, attorney at law and the head of the Banking and Finance Practice Group, and associate Mārtiņš Galzons advised on this transaction.
More on the transaction read here.
