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Cobalt and A&O Advise on Telia Lietuva Syndicated Loan

Cobalt and A&O Advise on Telia Lietuva Syndicated Loan


Cobalt has represented a syndicate of banks including AB SEB Bankas (in Lithuania), Danske Bank A/S (in Denmark), and Nordea Bank AB (in Sweden) in granting a syndicated loan of EUR 60 million to Telia Lietuva. The borrowers were advised by the South African office of Allen & Overy.

According to Cobalt, "the funds will be used to refinance the loan which was granted by the company’s shareholder Telia Company a few years ago to the telecommunications company then named Omnitel. The financing in the amount of EUR 77 million was intended for the development of 4G network."

The syndicated loan, granted in equal EUR 20 million portions by the three banks, was arranged by SEB Bankas in Lithuania, together with SEB Bankas in Sweden (Skandinaviska Enskilda Banken AB). The maturity of the loan is 5 years.

“This is a major, complex credit transaction, not common in Lithuania, which was arranged by SEB Bankas in compliance with international loan standards (LMA, Loan Market Association)," said Vilius Juzikis, Head of Corporate Banking at SEB Bankas. "Telia Lietuva is a good example for the market how to benefit from the favorable situation and professionally optimize financial liabilities." 

The Cobalt team was led by Partner Akvile Bosaite.

The Allen & Overy team was led by Partner Michael Duncan and Senior Associate Alex Cockburn.

Lithuanian Knowledge Partner

COBALT is closely integrated alliance of top-tier law offices in Estonia, Latvia, Lithuania and Belarus, making us one of the largest law firms in the Baltic market. 

COBALT is a trusted partner for daily matters and complex large-scale transactions and disputes. The firm’s broad spectrum of expertise and established position as the market leader give a comprehensive basis for providing advice on special areas of business law.

We advise top international and regional businesses, financial institutions, state and local governments, and the region’s most promising start-ups. We offer leading-edge solutions in key industry sectors: Consumer Products, Trade & Distribution, Real Estate & Construction, Pharmaceuticals & Healthcare, Energy & Utilities, Communications, Media & Technologies, Financial Services, Transport & Logistics.

COBALT has been named Baltic Law Firm of the Year 6 times. We were recognized as the Most Innovative Law Firm of the Year 2019 in the Baltics at the IFLR European Awards in London. COBALT also won CEE Legal Matters Deal of the Year Award for Estonia, Latvia, and Lithuania, as well as the overall Baltic Deal of the Year, at the 2019 CEE Legal Matters Awards. We have received multiple awards from the Chambers Europe, IFLR, The Lawyer and Mergermarket and we are regularly listed amongst the top performing M&A legal advisors in the Bloomberg, Thomson Reuters and Mergermarket deal tables

More information on Cobalt can be found at www.cobalt.legal

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