Vilnius/Riga/Tallinn, Nasdaq Baltic Market, January 26, 2023 - Nasdaq (Nasdaq:
NDAQ) announces that bonds issued by the Lithuanian company UAB Legal Balance
have been admitted to trading on the Nasdaq Baltic First North Market by Nasdaq
Vilnius as of today, January 26. Legal Balance provides professional legal
services related to debt recovery, debt purchasing in Lithuania and abroad, and
the management of receivables.
The size of Legal Balance's bond issue is EUR 2 million. The bonds have a
maturity of 3 years with an annual interest rate of 8% and quarterly coupon
payments. Each bond has a nominal value of EUR 1 000. They mature on November
10, 2025. The company will use the funds thus raised for expansion in existing
markets and search for new ones. Some of the proceeds will go toward the
development of new products and services. Legal Balance's bond issue was
distributed by the investment banking firm Evernord.
"Our sincere congratulations to Legal Balance for the listing of their bonds on
the Nasdaq Baltic First North Market," says Saulius Malinauskas, President of
the Nasdaq Vilnius Stock Exchange. "It is very good to see Lithuanian companies
recognizing Nasdaq Baltic First North as an attractive path to financing for
business development. We wish Legal Balance all success in their ambitions and
look forward to further working with them in the future."
"Going to the capital markets confirms that the company is reliable and its
operations transparent. As a sustainable, growing player in the market, we
carefully analyze all actions and investments and responsibly weigh possible
risks. Over several years, our professional team has built up a base of
customers, attracted significant investments, and implemented high customer
service standards. These efforts impress not just our current and potential
customers but also investors, who show their confidence in us by investing.
That inspires and empowers us to grow and raise awareness of the brand," says
Marius Šlepetis, the CEO of Legal Balance.
Mr. Šlepetis notes that along with this financial injection, the company is
beginning a new stage in its development involving faster digitization of
services and implementation of artificial intelligence solutions. This, he
says, will help make processes more efficient and faster, and services easier
and simpler for customers to access.
"Corporate bonds are a convenient and attractive capital raising tool that
more and more business sectors are discovering. Legal Balance is successfully
using it to enhance the company's growth, and the listing of the issue on the
First North alternative market is an engine of additional liquidity for the
securities. We have been working with Legal Balance for more than three years
and hope to continue writing their business success story together," says
Vismante Šepetiene, the Director at Evernord.
About Legal Balance
Legal Balance is a LegalTech company which provides account administration,
debt management and purchase services, and legal advice to individuals and
legal entities. The company is a privileged partner of EOS, a global network of
debt collection companies, and carries out collection all over the world.
Successfully operating in Lithuania since 2010, in 2018 Legal Balance opened
office in Latvia as well. Its main business segment is the purchase of overdue
liabilities.
In 2016, the company also introduced the first remote debt management and
registration platform in the Baltic states www.eskolos.lt, which caused a
breakthrough in the debt management market.
Eskolos.lt is an electronic debt management self-service system for
individuals, small businesses, and entrepreneurs. Users can register debtors
(both individuals and legal entities) on the platform and seek help from Legal
Balance in recovering money or they can sell debts to the company. In 2016,
Legal Balance was among the companies recognized by Creditinfo as "Strongest in
Lithuania".
More about the company and its services: www.legalbalance.lt, wwww.eskolos.lt
About Evernord
FMI Evernord is a brokerage house and wealth management firm which provides a
wide array of services for individuals and asset management services for
institutional investors and companies. After a responsible assessment of future
risks, it helps companies and funds attract capital and provides them with
corporate finance services and consulting.
Evernord Group currently has more than EUR 150 million of assets under
management. Evernord Asset Management UAB also manages four real estate funds
operating in Lithuania, Latvia, and Estonia. The company was granted permission
to manage collective investment undertakings intended for informed investors by
the Bank of Lithuania in 2017.
About Nasdaq
Nasdaq(NDAQ) is a global technology company serving the capital markets and
other industries. Our diverse offering of data, analytics, software and
services enables clients to optimize and execute their business vision with
confidence. To learn more about the company, technology solutions, and career
opportunities, visit us on LinkedIn, on Twitter @Nasdaq, or at nasdaq.com.
Nasdaq Baltic represents the common offering of the Nasdaq Tallinn, Nasdaq
Riga, Nasdaq Vilnius securities exchanges as well as Nasdaq CSD. Read more:
nasdaqbaltic.com
MEDIA RELATIONS CONTACTS:
Daiva Tauckelaite
+370 620 55 127
daiva.tauckelaite@nasdaq.com© 2023 GlobeNewswire
