Latvia issued 10-year bonds in amount of 500 million euros

COBALT advised HSBC, Natixis and DNB in relation to issuance of EUR 500 million 10-year notes by the Republic of Latvia at an annual fixed interest (coupon) rate 1.375% (yield 1.449%). Issued bonds in the international financial markets were offered at the historically lowest rate that Latvia has ever achieved.

The proceeds obtained from the issue will be used to cover general funding needs, including to cover the state budget deficit, to repay the government debt and to issue state loans, for example, to municipalities and municipal companies for funding investment projects.

Legal assistance to joint lead managers on the issuance was provided by the COBALT Specialist Counsel Edgars Lodzins.