Financials & Investments

Ellex Klavins advises leading financial institutions and investment companies on the most significant finance transactions. We enjoy a heavy volume of banking-related work, including commercial lending, syndicated loans, refinancing and portfolio restructuring. Our experts assist clients seeking to operate on a cross-border basis to comply with EU passporting and general good provisions, or alternatively we help clients to structure the nature of their investment services in order to comply with applicable restrictions or requirements.
Key projects in the field

Key contacts

Valters Diure

Associate Partner

Co-head of Finance & Tax Practice
+371 673 50541
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What's new in field
Ellex and Allen & Overy advise Blackstone on the acquisition of a majority stake in Luminor for EUR one billion
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Key projects in the field

Ellex Klavins advised on a global $1,5 billion refinancing deal
Ellex Klavins advised the lenders and investors of private placement notes issued by ED&F Man Treasury Management plc in relation to the group’s refinancing of nearly $1,5 billion of debt.
 
In September 2020, a package of refinancing arrangements to restructure certain of the group’s debts through the amendment and restatement of those liabilities into new secured debt instruments was signed. The changes will be made through a scheme of arrangement.
 
It is an important milestone for the company’s staff, creditors, clients, customers and suppliers and will create a stable financial environment for the group during the next three years and allow ED&F Man to pursue its strategy of focusing on its core trading roots and divesting of non-core assets in an orderly manner to ensure value is maximised.
 
The deal involved multiple jurisdictions across the globe. Ellex Klavins assisted the lenders and investors of notes with Latvian law issues and local security. The client was advised by Ellex Klavins experts Valters Diure, Raimonds Slaidins and Anna Misneva.
 
ED&F Man is an agricultural commodities merchant founded in 1783 that acts as a broker for both institutional and retail investors. It holds about $2bn of funds backing customers’ trades, according to data from the Commodity Futures Trading Commission, the US market regulator.
Ellex advised on Bite Group’s EUR 700 million bond issuance and financing
We advised initial bond purchasers and mandated lead arrangers Citigroup Global Markets Limited, Deutsche Bank AG, London Branch, ING Bank N.V., London Branch and UniCredit Bank AG on Bite Group´s EUR 700 million bond issuance and financing.
 
Bite Group is a telecommunications and media group based in the Baltics that is controlled by international asset management company Providence Equity Partners.
 
The proceeds from the bond offering, together with cash in hand, will be used to repay Bite Group’s existing financial debt and to return capital to shareholders. To secure the financing the issuer’s group will provide collateral packages in Lithuania, Latvia, and Luxemburg.
 
It is the largest bond issue by a private Baltic company to date.
 
We advised the clients in cooperation with international law firm Latham & Watkins. The pan-Baltic team included partner Ermo Kosk, senior associates Kadi Sink and Sandra Värk, counsel Rain Raa, in Estonia, foreign counsel Zinta Jansons, associate partner Valters Diure, senior associate Beata Plociņa and associate Marta Cera in Latvia, partner Giedrius Stasevičius, senior associate Gintarė Skrolienė, junior associate Ainis Augustas Petrulis, associate partner Miglė Petkevičienė, associate Dovydas Gudžiūnas, associate Paulius Vaitkevičius and associate Edita Sinickaitė in Lithuania.
We advised on Rabobank's Participation in Batterfisa's Debt Refinancing
Ellex Klavins advised on the case regarding Cooperatieve Rabobank U.A. refinancing of Latvian fishing company SIA Batterfisa's existing liabilities and working capital needs.
 
Besides financial law issues we provided legal support for registration of commercial pledges and ship mortgage.
 
Batterfisa was advised by Associate Partner Maris Brizgo and Senior Associate Anna Misneva.