We acted as Latvian legal adviser on two successful bond issues completed by Citadele banka.
Bond issue of EUR 300 million onto international markets
Citadele banka has issued EUR 300 million of senior preferred unsecured bonds, for which we advised we advised joint lead managers Citigroup, Morgan Stanley and Unicredit, as well as Citadele banka, which was the co-manager in the Baltic States (the issuer’s announcement is here). The notes are scheduled to mature on 23 December 2029.
EUR 50 million of EUR-denominated perpetual Additional Tier 1
Citadele banka has successfully issued EUR 50 million of EUR-denominated perpetual Additional Tier 1 (“AT1”) temporary write-down notes, for which we advised the sole bookrunner Morgan Stanley.
Our team and involvement
Partner Rūdolfs Eņģelis commented: “Both these transactions are a testament to the strength of the Latvian and Baltic economies, which are ultimately the reason driving investor demand for debt issued by leading local institutions. For Sorainen, these successful transactions resonate well with the overall strong activity we have seen in Baltic markets in 2025.”
The Sorainen team advising was made up of partner Rūdolfs Eņģelis, partner Aija Lasmane and of counsel Mārtiņš Rudzītis.
