Dentons and, reportedly, TGS Baltic have advised the Republic of Lithuania on updating its Euro Medium Term Note Program and successfully issuing EUR 1.5 billion in 3.5% notes due 2034. Freshfields Bruckhaus Deringer and Sorainen reportedly advised the underwriters.

Ellex has advised Hollister Incorporated on launching a new shared services center in the Kaunas Free Economic Zone, in Lithuania.

Walless has advised the Med Grupe shareholders on the sale of their pan-Baltic dental equipment distribution business to Straumann. Sorainen reportedly advised the Straumann Group.

Adon Legal has advised facility and property management holding City Service on securing an EUR 18.9 million financing from Swedbank.

Lithuania's Marius Dobilas and Renata Jatuzyte-Muleviciene have been appointed as Partners at Walless.

Ellex has advised Capitalica Asset Management on the establishment of its Capitalica Debt Fund targeting Baltic companies' high-yield bonds.

Ellex Valiunas has advised Lords LB Asset Management-managed Investmira on the successful redemption of its EUR 55 million bond issuance from 2021.

In The Inside Track, General Counsels across CEE share the nuances of their roles, challenges, and strategies for success. Given the importance of relationships between in-house legal departments and law firms, this time we asked GCs: What is the most common reason for which you cease working with a specific law firm and what would you suggest firms definitely do to ensure they do not make the same mistake?

In The Corner Office, we ask Managing Partners at law firms across Central and Eastern Europe about their backgrounds, strategies, and responsibilities. With 2023 marching to an end, we looked ahead and asked about strategies for next year: As the budgeting period is around the corner, compared to 2023, what are the main budgeting lines you expect to increase for 2024 and why?

Looking into the historical context of Scandinavian foreign direct investment in the Baltic states, TGS Baltic Managing Partner Ivars Grunte, Walless Partner Rolan Jankelevitsh, Ellex Valiunas Partner Ruta Pumputiene, and Klauberg Baltics Managing Partner Theis Klauberg explore the economic and legal ties between the two regions.

While Lithuania’s fintech sector has emerged as a European powerhouse, the number of licensed companies has been decreasing, indicating a shift towards a more quality-focused approach. Cobalt Partner Akvile Bosaite, Motieka Head of Financial Services and Compliance Sigita Zavisiene, and Walless Partner Joana Baublyte-Kulviete take stock of the sector.

After several years working for law firms and on major energy projects, Gabija Kuncyte has been with Compensa Life Vienna Insurance Group’s Lithuanian Branch as a Legal and Compliance Officer for over a year and a half. She discusses the evolution of in-house legal positions and the nuances of the legal industry in the Baltic region.

Lithuania’s tax system underwent a major overhaul in 2004 when the country joined the European Union. For almost two decades, its evolution has been slow-paced – one could even call it cosmetic.

Former Associate Partner Alina Makovska has been elevated to full Partner status with Walless, as the firm's 30th Partner in the Baltics.

Schoenherr has advised Kommunalkredit Austria on a EUR 25 million loan to the INVL Renewable Energy Fund I to finance the construction of solar power plants with a total capacity of 51 megawatts in Romania. Glodeanu & Partners advised the INVL fund. Sorainen reportedly advised Kommunalkredit as well.

Dentons and TGS Baltic have advised the European Investment Bank and Nordic Investment Bank on their EUR 64 million project financing for Ignitis Renewables to fund the Mazeikiai wind farm in Lithuania. Walless and Linklaters advised the Ignitis Group.

Norton Rose Fulbright has advised Inter Cars on the extension, increase, and reorganization of its senior facilities in the aggregate amount of approximately PLN 2.54 billion (USD 642 million). Kinstellar, Magnusson, Kelemenis, and Glimstedt reportedly advised on the matter as well.

On December 14, 2023, Walless announced the merger of the retail businesses of Invalda INVL and Siauliu Bankas (reported by CEE Legal Matters on November 29, 2022) had closed.