Sorainen team is advising Nordic Investment bank, an international financial institution; and Citadele banka, one of the leading banks in Latvia, on providing financing to AS PN Project, a company managed by Lords LB Asset Management, for construction of an office complex certified excellent by BREEAM in Riga (Project).
We performed legal due diligence on the financing transaction, and advised on the financing and security structure of the project, as well as assisting with loan documentation and intercreditor agreement drafting. Sorainen is continuing to advise both lenders on security documentation.
Our partner Rūdolfs Eņģelis comments: “With sustainability being in focus in almost every industry today, it has been a great experience for us to apply our financial law and construction law skills to help deliver a state-of-the-art real estate development to the city of Riga.”
Sorainen’s team consisted of the Real Estate team, led by partner Lelde Laviņa, and the Finance team, led by partner Rūdolfs Eņģelis, and included senior associates Andris Vilisons and Natālija Šestakova from the Real Estate practice, and counsel Santa Rubīna and senior associate Inese Heinacka, from the Finance practice.
More information about this financing project is available here: https://www.nib.int/releases/nib-finances-green-property-developments-in-riga