Banking & Finance, Capital Markets

Team

A Selection of Recent Deals & Cases

• Advising the banking syndicate of MKB (Hungary), SEB Banka (Latvia) and Unicredit Banka (Latvia) in the restructuring of a EUR 83 million shopping and entertainment center construction and investment loan facility to Diksna, a subsidiary of Plaza Centers NV group.

• Advising the Latvian Guarantee Agency in taking over the JEREMIE holding fund of the European Investment Fund and its transfer to the agency. The advice included research of EU structural funds, public procurement, financial regulations, structuring of the potential take-over models under Latvian and EU Laws. Value of the fund exceeds EUR 180 million.

• Advising to European Bank for Reconstruction and Development in providing a loan to AS Graanul Invest for financing of construction, equipment and placing of two combined heat and power plants in Latvia and Estonia, respectively. The loan has been secured inter alia, by commercial pledges and mortgages over the assets of AS Graanul Invest group of companies in Latvia, Estonia and Lithuania.

• Assisting Skandinavska Enskilda Banken AB with arranging and securing an acquisition facility in support of financing Homburg Group in connection with acquisition of the real estate portfolio of SEB in Baltics, including advice on the new ownership structure for the transaction, relevant tax issues and granting of collateral.

• Advising Deutsche Bank, London Branch in connection with derivatives transaction for financing of a major infrastructure project (construction of South Bridge in Riga).

• Issuance of legal opinions to various international banking institutions on the enforceability of the termination, bilateral close-out netting and multibranch provisions of the ISDA Master Agreements, the validity and enforceability of collateral arrangements under the 1995 Credit Support Annex and the enforceability of the termination and bilateral close-out netting provisions of a derivatives agreement.

• Advising Parex Banka in restructuring and recovery of the bank's foreign assets. Acting as a lead counsel in respect of the sale of its two Russian leasing subsidiaries, a leasing subsidiary in Azerbaijan, and sale of debt claims in Russia and Azerbaijan.

• Acting as transaction and regulatory counsel to the Latvia branch of Allied Irish Banks plc, one of the leading commercial banks in Ireland, in the sale of its Latvian mortgage loan portfolio to Swedbank.

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Endorsements

• "[…] six-strong team at Raidla Lejins & Norcous is one of the largest and most experienced in Latvia." (The Legal 500 2013)

• "[…] pan-Baltic leader [RLN] is respected amongst peers as a hardworking team of lawyers who are "well connected" with particular strength in finance." (IFLR 1000 2012)

• "[RLN is] a firm favourite with clients: 'They're a client orientated firm. They helped us with legal issues but also with transaction related matters like application processes and presentation to government bodies which was invaluable'. Another client adds: '[…] they have a very good communication network. It's like having one window into the Baltics'." (IFLR 1000 2012)

• “Raidla Lejins & Norcous’ ‘friendly team’ is marked by its creativity and level of partner involvement.” (The Legal 500 2012)

• “Clients of Raidla Lejins & Norcous highlight the considerable talents of the eight lawyers on this team, who bring a host of different skills to the table. The past year saw the firm act on a number of high-profile banking, restructuring and M&A deals […].” (Chambers Europe 2012)

• “Sources say: ‘The firm is comprised of reliable people whose opinion can be trusted’ and ‘I appreciate the fact that the team gets straight to the heart of the issue’." (Chambers Europe 2012)

• "[Raidla Lejins & Norcous] is a respected and highly active firm and one that seems to enjoy a very healthy reputation among its competitors. '[Raidla Lejins & Norcous] is our main competitor, but we have a good cooperation with them,' says one, while another adds: '[Raidla Lejins & Norcous] is the one we see in serious transactions. We respect them and give them our conflicted work'." (IFLR1000 2012)

• "Clients of Raidla Lejins & Norcous rate the practice as ‘among the best’ and appreciate the ‘deep due diligence in complicated cases’. […] The firm acts for the majority of dominant banks in the region, including Swedbank, DnB Nord banka, and Nordea […]." (The Legal 500 2011)

• "This full-service player has a prestigious roster of clients, including big names from the banking sector, both in Latvia and abroad. Sources highlight the team's intellectual prowess, stable headcount and strong reputation on the market. It has seen increasing restructuring activity, and the firm's pan-Baltic network makes it well placed to advise on cross-border matters." (Chambers Europe 2011)

• "Raidla Lejins &­ Norcous continues its run in the top tier, due in no small part to its highly regarded corporate practice." (IFLR1000 2011)

• "This Baltic-wide full-service firm is highly regarded in banking and finance. One source says: "We are happiest working with Raidla [Raidla Lejins & Norcous] - it's a well-balanced, professional team"." (Chambers Europe 2010)

• "Raidla Lejins & Norcous handle client mandates "professionally and at excellent speed"." (The Legal 500 2010)

• "Raidla Lejins & Norcous maintains its top-tier position due to its all-round strength in both banking and finance and M&A work." (IFLR1000 2010)

• "Regulatory, transactional and contentious matters are all covered by this leading practice, which wins client praise for its strong local resources and regional network. Sources say: 'The group is fantastic at providing pan-Baltic and Nordic-wide support'." (Chambers Europe 2009)

• "…a service that is 'internationally oriented, fast and professional'." (The Legal 500 2009)

• "Its "in-depth knowledge of complex financial issues" is widely considered key to the group's position at the apex of the Latvian market". (Chambers Europe 2008)

• "When one client was asked why he chose to use the firm his response was simple: "In one sentence, because they are the best law firm in Latvia"." (IFLR1000 2008)

• "Raidla Lejins & Norcous is the most respected business law firm in Latvia, and the only one to have a top-tier ranking both for banking and for corporate law". (IFLR1000 2006)

• "The law office Raidla Lejins & Norcous is the market leader for banking and finance work in Latvia and one of the most respected internationally". (IFLR1000 2005)

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Publications

• Облигация - альтернативный источник финансирования (Bonds - an Alternative Financing Source) (Russian)

• Shadow Of Insolvency Risk Over Transaction Security (Latvian)

• Introduction to Collection of Debts (Latvian)

• International Financial Law Review, June 2008; published by Euromoney Institutional Investor PLC, London. The Baltics chapter (English)

• Legal Problems in the Regulation of Financial Instruments: Conflict of Regulation Under the Commercial Law, Financial Instruments Markets Law, Law on Bills of Exchange and Law on Checques, and its Correspondence to the Legal Acts of the European Union in the Area of the Company Law and Financial Instrument (Latvian)

• Upcoming Amendments to Financial Regulations. The Guide to the World`s Leading Financial Law Firms IFLR 1000 (English)

• How To Attract Cheaper Funds? (Latvian)

• The International Comparative Legal Guide to: Securitisation 2007. Latvia chapter (English)

• Article on financial regulation in Latvia. The Guide to the World's Leading Financial Law Firms IFLR 1000 (English)

• The International Comparative Legal Guide to: Securitisation 2006. Latvia Chapter (English)

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