COBALT advised Joint Lead Managers on issue of 20-year bonds by the Republic of Latvia

COBALT advised JP Morgan, HSBC, Natixis and Swedbank in relation to issuance of EUR 650 million 20-year notes by the Republic of Latvia at the lowest borrowing rate among CEE countries for similar long-term transactions, with an annual fixed interest (coupon) rate 1.375% (yield 1.514%).

According to The Treasury of the Republic of Latvia, the issuance was well received by investors with nearly 150 accounts involved. Investors were mainly from Europe (Germany, Great Britain, Scandinavia and other), as well as other regions, assuring the confidence of high quality investors in Latvia as an issuer.

Legal assistance to the Joint Lead Managers on the issuance was provided by the COBALT team lead by Specialist Counsel Edgars Lodzins. COBALT Banking & Finance experts were also involved in all previous issuances of Latvia’s bonds in the international capital markets.