Bitė Group has successfully issued 920 million euro bonds in the international markets

  • 2024-05-31

Bitė Group, a leading telecommunications and media group in the Baltics has successfully issued 920 million euro bonds in the international markets. This is by far the largest similar issues not only in Latvia, but also in the Baltics.

“In just three days we have distributed the largest bond issue in history in the international markets – investors have granted Bitė Group nearly 1 billion euros. This way major global investors show confidence not only in our group's activities, the sustainability of the business model of all group companies, but also in future prospects”- is convinced Pranas Kuisys, general director of Bitė Group.

According to P. Kuisys “Bitė Group proves wrong the ever-recurring doubts about Latvia and appeal of the region to the investors, and despite the geopolitical environment, once again brought some of the world's largest investors to the Baltic region.”

„Today is a historic day not only for our business group, it is a historic day for Latvia and all three Baltic states. Global investment powerhouses are sending a message of confidence to our countries. And they are sending it at a time when even we ourselves are lacking a little bit of that confidence. Investors are carefully choosing not only companies, but also regions - to whom to entrust the money of shareholders, pension funds, strategic investors. That's what makes this successful bond issue important not only to Bitė Group which demonstrates sustainable growth, but also to the people of Lithuania, Latvia and Estonia”, claims P. Kuisys.

Bitė Group manages telecommunication businesses in Lithuania and Latvia – Bitė Lietuva and Bitė Latvija, and also TV3 media group and paid television “Go3“ in Lithuania, Latvia and Estonia.

Even this week, on Tuesday, when announcing the news of the bond issue that is about to be issued, general director of Bitė Group stated that: “This is an assessment of performance and future prospects of the Group activities. We see this as recognition of our business model and sustainable growth.
At the same time, it also shows confidence in the entire so-called region of "New Nordic Countries".

Most of the proceeds from this record bond issue Bitė Group intends to use refinance existing debt and cover the costs related to the transaction.

About Bitė Group

Bitė Group is a leading integrated mobile, media, fixed broadband, and Pay TV provider in the Baltics. The Group provide a full range of services including mobile, media and content, fixed broadband and Pay TV in Lithuania and Latvia, as well as media and content and Pay TV services in Estonia. Group is being manages by global private equity company Providence Equity Partners.