JSC Lateko Banka has mandated Kaupthing Bank Luxembourg and RZB to arrange an 18-month €20mn syndicated term loan facility on its behalf.
The loan is extendable for another 18 months at each lender’s sole discretion. The margin is 0.75% per year. There is a bullet repayment.
Participation levels were: €4mn, €3mn, €2mn and €1mn respectively for arranger, co-arranger, lead manager, and manager.

General syndication has been launched.

Lateko Banka was established in April 1992 as a universal bank providing a wide range of financial services to corporates and individuals. Until 2004 the bank operated under the name Latvian Economic and Commercial Bank, which in September 2004 was changed to the abbreviated Lateko Banka.