Cobalt has advised the EBRD, Swedbank, and Citadele Bank on their provision of a EUR 86 million syndicated loan to UAB Vakaru Medienos Grupe in Lithuania.
The EBRD will provide EUR 20 million, Swedbank EUR 36 million, and Citadele will provide EUR 30 million. According to Cobalt, "the allocated funds will be used to finance a particleboard plant built in the Naujoji Akmene Free Economic Zone. This project will allow to fully meet the need for particle board in Lithuania and to generate greater added value in the areas of structural wood and furniture. VMG Group is a company specializing in wood processing, business management, technical maintenance, logistics, development of industrial real estate in Lithuania, Belarus, and other countries of the European Union. VMG Group consists of 16 companies operating in Lithuania and foreign countries and employing over 3900 people. The products manufactured by the companies of the group are exported to 11 countries in the EU, USA, Middle East, India, China, and Australia."
Cobalt's team consisted of Partners Elijus Burgis and Eva Suduiko, Senior Associate Lina Aleknaite van der Molen, and Associate Liucija Bitinaite.