VILNIUS - Denmark's Baltic Property Trust said it was planning to raise 5 million euros through a three-year euro-denominated bond issue in Lithuania, the first ever security offering by a foreign entity in the country.
BPT, which invests in real properties in all three Baltic countries, has applied to the securities commission for registration of its public bond issue, Aurelija Gasiuniene, head of the commission's securities registration office, said. She said the request was still being considered.
If registered, the issue will consist of 50,000 bonds with a nominal value of 100 euros each.
Lina Malisauskaite, finance manager at BPT Asset Management, said that proceeds from the bond issue would go toward the group's financing needs.
Baltic Property Trust failed to complete its bond issue worth 10 million litas (2.9 million euros) in the autumn of 2002. At the time it was announced that a part of the issue remained unsold due to technical reasons.