United Partners issues 6.2 million euro subordinated bond issue to acquire Maxima Latvija central cold-warehouse in Latvia.

UPP Olaines_ pilt
The share sale purchase agreement for the logistics park situated on 8.55 hectare land plot was signed on December 15th. The logistics park is made of two large warehouses with total area of 37,000m2. 13,400m2 are equipped with special coolers to provide cold-storage warehousing. It is one of the biggest cold-storages in Latvia and it was built between 2007 – 2008. The logistics park serves as the central cold-storage for Maxima Latvia. Other tenants in the warehouse are Girteka, McDonalds, Novobaltic and Akatrans. The warehouse is located on Riga – Jelgava highway A8, in Olaine, which is 22 km. from Riga centre and 25 km. from Riga Airport.

The acquisition structure was a combination of equity, subordinated bonds and bank loan. EUR 21.280 million senior loan was received from Luminor Latvia to finance this acquisition. The 6.215 million subordinated bond issue was subscribed in full amount by the investors and the securities were issued to the investors on November 10th 2017. More information regarding the security can be found on our webpage – UPP OLAINES OÜ.