COBALT advised LKAB Klaipėdos Smeltė in relation to EUR 65 million credit facilities

COBALT advised stevedoring company LKAB Klaipėdos Smeltė, a subsidiary of an international shipping group Mediterranean Shipping Company, in relation to a EUR 65 million credit facilities for the construction of a trans-shipment hub in Klaipėda.

Stevedoring company LKAB Klaipėdos Smeltė has signed loan agreements with the European Bank for Reconstruction and Development (EBRD) and AB SEB Bank, which both will finance the project in equal parts. The container handling centre will be the only one in the Baltic States and will therefore add to a competitive advantage of both Klaipėda and Lithuania in expanding container capacity and increasing cargo transit.

Our work comprised representation of LKAB Klaipėdos Smeltė with respect to the execution of the loan agreements as well as advice on all related matters. The project was led by the Managing Associate Akvilė Bosaitė.