28
Thu, Mar
51 New Articles

Sorainen Latvia Advises Deutsche Bank on Financing of Latvijas Krajbanka Buyer

Tupungato / Shutterstock.com

Latvia
Tools
Typography
  • Smaller Small Medium Big Bigger
  • Default Helvetica Segoe Georgia Times

Sorainen Latvia has advised the London branch of Deutsche Bank on financing it provided Baltics Credit Solutions Latvia (BCSL), the buyer of performing and non-performing credit portfolios from Latvijas Krajbanka, which is in insolvent liquidation.

The total number of clients in the portfolios exceeded 3,000, and the portfolios included corporate loans, mortgage loans, and consumer loans.

The Sorainen team advised Deutsche Bank – which provided a syndicated loan facility – on the financial and security documents and the portfolio acquisition transaction. Sorainen also advised on the taxation aspects of the transaction.

Following the signing of the financing and acquisition transactions in August 2013, BCSL obtained clearance from the Financial and Capital Market Commission of Latvia in November 2013, and gradually took over the portfolios.

Partners Rudolfs Engelis and Janis Taukacs and Associate Martins Rudzitis led Sorainen's team.

 

 

Our Latest Issue