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Norton Rose acted for the documentation agent, Merita Bank, with respect to a £62.5m facility given to AB Leituvos Telekomas, a Lithuanian telecommunications company. Norton Rose also advised Nordic Investment Bank on a parallel £15.6m facility. The money will be used to refinance existing short-term debt and to fund investment in technology before the liberalisation of the Lithuanian market in 2003. The deal represents the largest ever private loan to Lithuania. Banking partner Stephen Parish led the team. Dr Dalia Foigt of Lithuanian firm Regija advised both banks as Lithuanian counsel. Corporate partner Andre Andersson from Swedish law firm Mannheimer Swartling advised AB Leituvos Telekomas.

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