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Cobalt Advises SEB Bank and VIPA on Financing Renovation of Schools in Kaunas

Cobalt Advises SEB Bank and VIPA on Financing Renovation of Schools in Kaunas

Lithuania
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Cobalt has advised the SEB Bank and Public Investment Development Agency on their provision of a EUR 8.4 million loan to BaltCap Infrustructure Fund and the Kaunas District Municipality, designed to finance the renovation of schools in the the towns of Zapyskis, Kacergine, and Mastaiciai and the modernization of the Mastaiciai swimming pool.

According to Cobalt, “after the renovation, the schools will be able to educate additional 500 students from the surrounding areas, so they will no longer have to go to schools far from home on a daily basis.”

"The population of Kaunas district has increased by almost ten percent during the last five years — eight thousand permanent population — so it is natural that the number of schoolchildren is increasing, and the older local schools cannot always meet their needs,” said Vilius Juzikis, Director of SEB's Business Banking Department.

Cobalt’s team consisted of Partners Simona Oliskeviciute-Ciceniene and Eva Suduiko, Managing Associate Ausrys Sliavas, and Associate Ignas Jurkynas.

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