Maxima Grupė secures €260 million loan to redeem bonds early

VILNIUS - Lithuanian retail group Maxima Grupė announced it has secured a €260 million short-term financing agreement with SEB and ING banks to fund the early redemption of its long-term bonds, according to a company press release.

The two-year loan will be equally split between Skandinaviska Enskilda Banken AB, AB SEB bankas providing €130 million and ING Belgium SA/NV contributing the remaining €130 million. The credit agreement does not include performance guarantees or asset pledges.

The early bond redemption is part of a broader restructuring of Maxima’s parent company, UAB "Vilniaus prekyba." Under the planned reorganization, Maxima’s operations in Poland, Sweden, and Bulgaria will be separated from the current group structure and transferred to a new Dutch-based holding company, PARETAS B.V. Meanwhile, the Baltic businesses will continue operating under UAB "Vilniaus prekyba" and its Lithuanian subsidiaries.

Following the restructuring, Maxima Grupė will transfer its Polish retail chain "Stokrotka" and Bulgarian "T Market" operations to PARETAS B.V. The company will then focus on its core Baltic operations, where it will remain the leading retail operator.

"Through this agreement, we are extending our long-term partnership with SEB, one of the largest banks in the Baltic region. We are also pleased to welcome ING, an international banking and financial services provider and one of the largest banks in Europe, as a financing partner," said Lauryna Šaltinė, Maxima Grupė’s Chief Financial Officer.

The company stated it will consider returning to the bond market and establishing a long-term financing structure in 2026 after completing its restructuring, based on its business portfolio and market conditions.

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