Global law firm White & Case LLP has advised the Republic of Latvia in relation to its US$1 billion, five-year Reg S/Rule 144A bond issue – the country’s largest ever.

The proceeds of the offering will be used for the refinancing of indebtedness and general funding purposes of the Republic.

“This is a significant milestone for the Republic of Latvia and, given the existing volatile markets, and the size of the bond issuance, a great success,” said Stuart Matty, partner, White & Case.

White & Case has extensive sovereign experience, having worked with over 60 sovereign nations over the past 30 years. In Central and Eastern Europe the Firm has advised on capital markets transactions for a number of sovereigns, including Ukraine, Serbia, the Slovak Republic, Lithuania, Croatia, Poland, Macedonia, Montenegro and the Czech Republic and are delighted to have had the opportunity to work with the Republic of Latvia on this issuance.

The White & Case team was led by partners Stuart Matty and Francis Fitzherbert-Brockholes supported by associate Michael Bark-Jones, all based in London.