COBALT advised LHV Pank on the establishment of its covered bond program


2020 - 05 - 22

COBALT advised AS LHV Pank (“LHV”), an Estonian credit institution which shares are listed on Tallinn Stock Exchange, on the establishment of its EUR 1,000,000,000 Covered Bond Programme (the “Programme”). Under the Programme, LHV may issue covered bonds with maximum aggregate principal nominal value of EUR 1,000,000,000 outstanding at any time. The covered bonds issued under the Programme would be issued under the Estonian Covered Bonds Act and would be covered by LHV’s claims arising mortgage loans secured by mortgages over residential properties in Estonia. Once issued, the covered bonds are expected to be admitted to trading on Euronext Dublin stock exchange.

The Base Prospectus for the Programme has been approved by the Central Bank of Ireland and is available he website of Euronext Dublin at www.ise.ie and on LHV’s website at https://investor.lhv.ee/en/covered-bonds/.

COBALT advised LHV on Estonian law matters in all steps of the transaction. COBALT’s team for this project consisted of partner Marina Kotkas, senior associate Mattias Tammeaid, associate Sven Böttcher and junior associate Johanna Lumiste.

Photo source: Martin Dremljuga/ERR

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