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Cobalt Advises Banks on Latvenergo’s Green Bonds Issuance

Cobalt Advises Banks on Latvenergo’s Green Bonds Issuance

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Cobalt has advised joint lead managers Luminor and Swedbank on Latvenergo AS’s EUR 50 million green seven-year maturity bonds issuance.

Latvenergo is a state-owned producer of approximately 70% of the electricity in Latvia. The company operates four hydroelectric power plants, two combined heat and power plants, and a wind farm across Latvia.

According to Cobalt, the bonds were subscribed by 24 different investors, including pension funds, asset management funds, insurance companies and banks in the Baltic region, Finland, and Sweden, as well as the EBRD and the Nordic Investment Bank." According to the firm, Latvenergo will invest the proceeds from the issuance in environmentally friendly investment projects. 

Cobalt’s Latvian team included, Partners Sandija Novicka and Gatis Flinters, Specialist Counsel Edgars Lodzins, and Associate Krisjanis Buss.

Cobalt at a Glance

COBALT is a closely integrated alliance of top-tier law offices across the Baltics, uniting more than 250 attorneys and support staff. During 25 years of experience, we have become a strategic partner to our clients in handling both daily matters and complex large–scale transactions and disputes.

The firm’s broad spectrum of expertise and established position as the market leader gives a comprehensive basis for providing full-service business law advice.

Top international and regional businesses, financial institutions, state and local governments, and the region’s most promising start-ups are among our clients. We offer leading-edge solutions in key industry sectors: Consumer Products, Trade & Distribution, Real Estate & Construction, Pharmaceuticals & Healthcare, Energy & Utilities, Communications, Media & Technologies, Financial Services, Transport & Logistics.

COBALT has been named Baltic Law Firm of the Year 7 times receiving Chambers Europe, IFLR, The Lawyer and Mergermarket awards, and we are regularly listed amongst the top-performing M&A legal advisors in the Bloomberg, Refinitiv and Mergermarket deal tables. Recognized as the No.1 Lithuanian law firm in the Prospera Law Firm Review 2021 and No. 1 law firm in Latvia in 2022, 2020, 2019, and 2018 client satisfaction surveys. We were recognized as a Baltic-wide Law Firm of the Year at the 2022 Chambers Europe Awards ceremony and named the Baltic States Tax Firm of the Year and Pro Bono Firm of the Year at the annual ITR EMEA Tax Awards 2021 ceremony. 

More information on COBALT can be found at www.cobalt.legal.