The Latvian national airline airBaltic issues 340 million 5.25-year secured euro bonds

16.05.2024 The Latvian national airline airBaltic issues 340 million 5.25-year secured euro bonds

TGS Baltic advised joint global coordinators BNP Paribas, Citi, and J.P. Morgan, joint bookrunners Morgan Stanley and SEB, and co-managers LHV and Signet Bank on the issue by the Latvian national airline airBaltic of 340 million 5.25-year secured euro bonds to be listed on Euronext Dublin stock exchange. This is the largest corporate bond issue originating from Latvia.

This transaction was well received by the international and local investment communities and the Latvian State. It resulted in a final allocation to more than 100 leading global institutional investors from more than 20 countries across 3 continents. The demand for the bond exceeded the supply, with the final orderbook surpassing EUR 800 million.

The proceeds from the issue will be used to refinance the existing bonds and loans and to finance the company's general needs, including development.

For more information, please see the airBaltic press release here.

The legal team on the financiers’ side was led by Linklaters advising on English law and assisted by TGS Baltic team advising on Latvian law matters. The TGS Baltic team was composed of partners Inese Hazenfusa, Andra Rubene and Dalia Augaite and associates Evija Ābele andMārtiņš Galzons.