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COBALT advised joint lead managers on issue of 550 million Eurobond by the Republic of Latvia

2020-04-03

Treasury of the Republic of Latvia has raised funding in international markets re-opening its 950 million Eurobond due 7 October 2026 with a tap issue of EUR 550 million. The joint lead managers of the transaction were Barclays, J.P. Morgan and Societe Generale.

Minister of Finance Mr. Jānis Reirs: “Given the emergency situation in the country, it is important to have available funding to finance all economic stimulus efforts and measures to support citizens. It is important to overcome the COVID-19 crisis together to return to normal conditions. With this transaction we have raised long-term funding having favourable borrowing conditions and ensuring low and predictable long-term debt servicing costs.” Quatation from annoucement issued by Treasury of the Republic of Latvia.

Legal assistance to the joint lead managers was provided by COBALT Banking and Finance team led by Specialist Counsel Edgars Lodziņš.