TGS Baltic assisted CVI Dom Maklerski sp. z o.o. (CVI ) in arranging financing to SIA Riga Retail Park for the purposes of co-financing acquisition of real property as well as construction and development of the Saga Lifestyle and Shopping Centre in Stopini, a suburb of Riga, Latvia, by the Baltic real estate developer, VPH UAB.

TGS Baltic assisted CVI in preparation and negotiation of a secured mezzanine bonds transaction. The bonds were issued by a Latvian company SIA Riga Retail Park under Polish law, but the securities were established under Latvian law. The bond issue was also a subordinated transaction to the senior loan to be issued by a syndicate of banks in Latvia. TGS Baltic assisted in the preparation and negotiations of the transaction documents. In particular, TGS Baltic advised on all transactional matters under Latvian law, including, subordination agreements with the banks in Latvia, Latvian law matters in relation to the bonds, security agreements for the bonds to be entered into by SIA Riga Retail Park and its shareholders, corporate approvals and others. The closing of the transaction was in January 2020.

The team of TGS Baltic was made of partner Inese Hazenfusa, associate Miķelis Ozolņš and legal assistant Mārtiņš Galzons.

Deloitte Legal from Poland advised on Polish law matters of the transaction.

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