Cobalt has advised AB SEB Bankas on arranging the EUR 70 million notes issue program of AS Attistibas Finansu Institucija Altum and issuance of EUR 15 million notes with a yield of 0.95%.
Altum is a state-owned development finance institution, which offers state aid for various target groups with the help of financial tools, such as loans, credit guarantees, and investing in venture capital funds.
According to Altum, the transaction attracted a great deal of interest from investors in Latvia, Lithuania, and Estonia and the notes were oversubscribed by 13 times. The proceeds from the notes will be used for Altum's funding purposes of sustainable business projects that are vital for the national economy within agriculture.
The Cobalt team was led by Specialist Counsel Edgars Lodzins and included Partner Sandija Novicka and Associate Krisjanis Buss.