Sorainen, working with lead counsel Clifford Chance, has advised joint lead managers Citibank, Goldman Sachs, and Societe Generale on the EUR 1 billion issuance of ten-year government bonds by the Republic of Estonia. Ellex and, reportedly, Freshfields Bruckhaus Deringer advised the Republic of Estonia.
According to Sorainen, “investor interest in the issuing of government bonds proved to be significant, given the recent nervous state of the market. A total of 93 international investors sought to subscribe to the bonds in excess of EUR 1.8 billion. The final volume of the long-term bond issue was EUR 1 billion, and the coupon interest rate was 4% per annum. The bonds are listed on the Dublin Stock Exchange.”
Sorainen’s team included Partners Katlin Krisak and Kaido Kunnapas, Counsel Jane Eespold, Senior Associate Verner Silm, and Associate Oliver Amarik.
The Ellex team in Estonia included Partners Gerli Kivisoo and Raino Paron, Senior Associates Kadi Sink, Maria Teder, and Dmitri Rozenblat, and Lawyer Anastassia Ostrovskaya.