Cobalt is a Baltic law firm with presence in Estonia, Latvia and Lithuania. Operating an office in Riga, the firm is one of the leaders in the Latvian market.
Focusses / specialisms
The firm is known for the strength of its financial and corporate work.
Its banking and finance practice is highly experienced in representing local and international clients on a broad array of bank and non-bank financing mandates, re-financings, securitization and capital markets work. The team's strength in project finance work, in such sectors as fishing, real estate and technology, is well noted, alongside its experience in EU banking and financial services law, regulatory matters and disputes.
The M&A team is similarly well regarded for both public and private market work. It regularly represents buyers, sellers and financing providers on the largest and most complex matters in Latvia.
In project development the firm is strong in supporting both energy and infrastructure/ construction projects.
Key clients
Among its clients are Entain, Flügger group, Finance Latvia Association, European Lingerie Group, Altum Investment Fund, SuperHero Capital, Augstsprieguma tīkls, ALTUM, Citadele bank, Barclays, BNP Paribas, Credit Agricole, Luminor Bank, Swedbank, European Investment Bank and Nordic Investment Bank.
Research period review: 32nd edition (2022/2023)
During the research period the firm was active in all areas of corporate law.
In banking and finance the firm advised borrowers and lenders on direct financing and project financing.
The capital markets team advised issuers and joint-lead managers on the issue of bonds, green bonds, Eurobonds and senior unsecured preferred bond.
In corporate and M&A it has a prolific record in advising most often the acquirers on acquisitions in investment management, financial services, industrials and manufacturing, gaming, consumer goods and services, financial services, food and beverage, technology and telecommunications, and pharmaceuticals and life sciences. It also provided regulatory advice to the Government of Latvia on regulation of the cross-border bonds, other commercial clients in the banking system in connection to banking payment regulation.
In project development it advised project developers on projects in public infrastructure, transport, aviation and, most notably, in renewable energy.
In restructuring and insolvency, the firm was active in advising shareholders on corporate and business restructurings.
Deal highlights: 32nd edition (2022/2023)
Augstsprieguma €100 million green bond issue
Citadele banka €200 million senior unsecured preferred bond issue
Entain SKr 3.7 billion acquisition of Enlabs
European Lingerie Group €27 million financing
Flügger DKr 208 million acquisition of Eskaro
Kekava Bypass road project
Republic of Latvia €1.3 billion Eurobond issue
Republic of Latvia €5 billion Eurobond issue
Republic of Latvia €600 million sustainability-linked bond issue
Client feedback: 32nd edition (2022/2023)
Financial services regulatory
"Excellent law firm with the right business mindset."
"Outstanding partner in the law firm."
Private equity
"Cobalt provided high-quality service helping us to navigate and close the transaction successfully."
Project development : Energy
"Have very great experience in the field."
Gatis Flinters
"Very experienced lawyer, with good knowledge of the subject."
Andrejs Lielkalns
"He was hardworking and provided high-quality and concise legal advice."
Edgars Lodzins
"He has a good knowledge of all binding regulations and has a broad vision; offers constructive proposals; has a good ability to look at things by seeing their essence; understandable, pleasant and always timely communication; what is promised is always done. Overall, his performance is always professional and at a high level."
