TGS Baltic has advised Eco Baltia on its inaugural EUR 8 million issuance of three-year bonds. Eversheds Sutherland acted as trustee for the issuance.
According to TGS Baltic, “the maturity date of the bonds is set on February 17, 2026, with an option for the issuer to call the bonds after two years. The nominal value of a bond is EUR 1,000, and the interest rate (coupon) of 8% is fixed for the whole period [...] The proceeds raised will be used to finance future development projects of Eco Baltia, with a focus on supporting the company’s expansion plans in Europe and promoting the circular economy.”
Eco Baltia is an environmental and waste management group in the Baltics, managed by private capital fund INVL Baltic Sea Growth Fund. Eco Baltia provides full-cycle waste management solutions, from waste collection and sorting to secondary raw material logistics, wholesale, and raw material processing.
TGS Baltic’s team included Partners Vidmantas Drizga, Inese Hazenfusa, and Dalia Augaite and Associate Martins Galzons.
The Eversheds Sutherland team included Senior Associate Justine Ignatavicute and Associate Karlis Jekabs Ivans.