ALTUM issues bonds in the amount of EUR 70 million

Latvia’s state-owned development finance institution, ALTUM, has successfully issued 5-year bonds, raising EUR 70 million with a fixed annual interest rate of 3.576%. This marks the first issuance under ALTUM’s fourth bond issue program, which has a total value of EUR 120 million. 

The bond issue saw exceptional interest from Baltic institutional investors. Overall, 18 institutional investors participated in the bond offering, including Nordic Investment Bank. Luminor Bank AS acted as the Sole Lead Manager of this bond issuance. 

COBALT Banking and Finance team including Partner Edgars Lodziņš and Senior Associate Krišjānis Bušs provided legal assistance in connection with the issuance of bonds. 

Latvia’s state-owned development finance institution ALTUM facilitates access to financial resources for enterprises and households through instruments like loans, guarantees, and venture capital investments. By supporting state-defined priority areas, ALTUM aims to foster national economic development and mobilize private capital. Its funding stems from a combination of EU funds, national public funding, and capital raised from international institutions and markets. 

Nasdaq Riga announcement.