Sorainen has advised joint lead managers Citigroup, Luminor Bank, Nordea, and UniCredit on Citadele Banka’s EUR 200 million notes issuance, due in 2026. Cobalt and reportedly Allen & Overy advised Citadele Banka.
According to Sorainen, “the purpose of the issuance is to meet the Minimum Requirement for Own Funds and Eligible Liabilities. Proceeds from the offer are to be used by Citadele for general corporate purposes.”
Sorainen had previously advised UniCredit Bank on its sale of UniCredit Leasing to Citadele Banka (as reported by CEE Legal Matters on January 2, 2020).
Sorainen’s team included Partner Rudolfs Engelis, Counsel Aija Lasmane, Senior Associate Inese Heinacka, and Of Counsel Martins Rudzitis.
Cobalt’s team included Partner Sandija Novicka, Specialist Counsel Edgars Lodzins, and Associate Krisjanis Buss.