COBALT acted for AB Bobutės paskola in admission of its bonds to trading on First North market

COBALT has advised a major Lithuanian provider of fast consumer credits AB Bobutės paskola in connection with its bond issue and admission to trading on First North debt securities market. AB Bobutės paskola is the first company in Lithuania whose securities have been admitted to trading on First North market.

First North is a multilateral trading facility (MTF) without the status of an EU-regulated market. It provides an alternative to businesses that wish to raise funding for growth in the capital market, but are not yet ready to enter the regulated market. First North trading system is designed to meet the needs of all small, medium-sized and larger businesses from all industries. For many businesses, First North can be a stepping-stone into the regulated market.

AB Bobutės paskola intends to use funds attracted from the bond issue for expansion and development of new services and products.

COBALT advised on the legal aspects of the bond issue, trade on the securities market, and other regulatory matters. The team was led by Akvilė Bosaitė, Managing Associate and Head of Banking and Finance Practice Group, supported by Associate Rūta Balkevičiūtė-Mačeikienė.