Sorainen has advised the Bite Group on a EUR 700 million bond issuance and refinancing. Latham & Watkins and Ellex reportedly advised initial bond purchasers and mandated lead arrangers Citigroup Global Markets Limited, Deutsche Bank AG, London Branch, ING Bank N.V., London Branch, and UniCredit Bank AG. Bite Group is a telecommunications and media group based in the Baltics that is controlled by international asset management company Providence Equity Partners. "The proceeds from the bond offering, together with cash in hand, will be used to repay Bite Group's existing financial debt and to return capital to shareholders," Sorainen reported. "To secure the financing the issuer's group will provide collateral packages in Lithuania, Latvia, and Luxemburg."