Altum's EUR 70 Million Bond Issuance Supported by Cobalt

Latvia's state-owned development finance institution, Altum, recently launched its fourth bond issue program, with an issuance of five-year bonds totalling EUR 70 million. Luminor Bank served as the sole lead manager for this issuance, with legal advice provided by Cobalt. Cobalt's team, including Partner Edgars Lodzins and Senior Associate Krisjanis Buss, played a critical role in advising on the transaction. These bonds carry a fixed annual interest rate of 3.576% and have attracted significant interest from Baltic institutional investors, including participation from 18 entities such as the Nordic Investment Bank. This issuance marks the first under Altum's fourth bond issue program, which cumulatively amounts to EUR 120 million. Altum's mission is to facilitate access to financial resources for Latvian enterprises and households through various instruments like loans, guarantees, and venture capital.