Banking & Finance, Capital Markets
The Banking & Finance, Capital Markets team at Raidla Lejins & Norcous Estonia is most well-known for its work in complex cross-border financing transactions. It is why Raidla Lejins & Norcous is the leading firm in Estonia in IPO and regulatory matters and has advised the largest number of restructuring and acquisition transactions that have arisen in the banking sector.
Our team members have years of experience with new and innovative instruments and structures including:
- drafting of the Rules of the Tallinn Stock Exchange
- the first IPO and use of GDR in Estonia
- the first IPO on the basis of the EU Prospectus Directive in Estonia
- the first bond issue by the Republic of Estonia
We have advised Estonian issuers in connection with the offering of debt and equity securities on foreign markets (London, Luxemburg, Stockholm, and Helsinki) as well as a variety of clients in regulatory, financing and debt restructuring matters.
Over the years Raidla Lejins & Norcous has developed a strong network with key institutions in the field including the stock exchange, the financial supervision authority and other regulative bodies. Our team members are actively involved in field-specific legislative drafting.
Corporate INTL Magazine Legal Awards awarded Raidla Lejins & Norcous with the title of "2013 Banking Law Firm of the Year in Estonia"
Corporate INTL Magazine Legal Awards awarded Raidla Lejins & Norcous with the title of "2012 Banking Law Firm of the Year in Estonia"
Participation in field-related legislation
Securities Market Act
Central Registry of Securities Act
Law on Investment Funds
Credit Institutions Act
Development Fund Act
Money Laundering and Terrorist Financing Prevention Act
Insurance Activities Act
Financial Supervision Authority Act
A selection of deals & cases
- Advising AS Tallink Grupp and AS Infortar in the sale of 15,73% of shares in Tallink to Baltic Cruises Holding L.P.
- Acting as the collateral agent for the notes issued by Credistar Group AS
- Advising Eesti Energia Aktsiaselts, the national energy company, in connection with the issuing and listing of its EUR 300,000,000 notes due 2018 on the London Stock Exchange
- Advising UKRSELHOSPROM PCF LLC in connection with the acquisition of shares in MARFIN PANK EESTI AS, an Estonian bank, and obtaining of permission for acquisition of a qualifying holding from the Estonian Financial Supervisory Authority
- Advising a club of leading banks (led by Nordea Bank Finland PLC Eesti filiaal) in connection to a syndicate to AS Alexela Logistics with a total amount of USD 156 million
- Advising Eesti Energia Aktsiaselts in its EUR 500 million bilateral loan agreements with five local banks
- Advising a syndicate loan of European banks (Deutsche Bank AG, HSH Nordbank AG, ABN AMRO Bank N.V. and ING Bank N.V.) to Bominflot Bunkergesellschaft für Mineralöle mbH & Co in the amount of EUR 205 million
- Advising Deutsche Bank AG, Nordea Bank Finland Plc and Swedbank AB (publ) in connection with the issuing and listing of EUR 225,000,000 4.625 per cent notes due 2018 of AS Elering on the London Stock Exchange
- Advising Aktsiaselts BALTIKA, a leading fashion retailer in the Baltics, in offering of new shares and increase of the share capital
- Advising Eesti Energia Aktsiaselts, the national energy company and its fully owned subsidiary, OÜ Elering, the owner and operator of the Estonian electricity transmission network, in connection with obtaining of financing from a syndicate of Scandinavian banks in the amount of EUR 187 million
- Advising Morgan Stanley on Estonian regulatory matters related to offering of investment fund units in Estonia
- Advising Société Générale in connection with the registration in Estonia of the programme of EUR 125 billion medium term notes of Société Générale / SGA Société Générale Acceptance N.V. / SG Option Europe
- Advising QBE Insurance (Europe) Limited in connection with closing of its Estonian branch and termination of its activities in Estonia
- Advising Nets Estonia AS in the acquisition of Pankade Kaardikeskuse Aktsiaselts
- Advising the IPOs of Arco Vara AS, AS EESTI EHITUS, Aktsiaselts Tallink Grupp, AKTSIASELTS TALLINNA VESI, Global Ports Investments PLC et al
- Advising Borse Dubai Ltd in connection with the Estonian regulatory aspects of the acquisition of OMX AB and on the related agreement with Nasdaq Stock Market, Inc.
- Advising Credit Suisse First Boston, BNP Paribas, Deutsche Bank AG, Merill Lynch International, Hansabank Markets and Estonian Union Bank in connection with the EUR 100 million bond issue, the very first bond issue by the Republic of Estonia
- Advising INTERNATIONAL WATER (UK) LIMITED in the acquisition of AKTSIASELTS TALLINNA VESI
This market heavyweight regularly assists with IPOs, and also comes highly recommended for matters involving syndicated loans and acquisitions. Offerings of debt and equity securities on foreign markets are also a strength, and it has assisted clients with such projects on the London, Luxembourg and Stockholm stock exchanges. Other highlights include advising Ukrselhosprom PCF on its acquisition of shares in Marfin Bank Eesti, and assisting Allied Irish Banks with the sale of its loan portfolio to Krediidipanga Liisingu. Other clients include Eesti Energia, East Capital and Swedbank.
Sources say: "The standard of work is of a very high quality and the firm takes care of us well." "One of the top firms to go to in the Baltics."
Raidla Lejins & Norcous provides ‘good value for money’ and ‘always factors clients’ changing needs into its advice’. Practice head Raino Paron is a leading figure in the market.
Finance and capital markets specialist Raino Paron earns solid recommendations for the skill and knowledge he can impart on M&A work.
There is plenty of respect for Raidla around the market and few doubt that it deserves its top tier status: "Leaders in the market. You feel good if you know you'll negotiate with them," says one peer.
Raidla Lejins & Norcous remains a first choice for many high-profile clients, and is widely commended as Estonia's premier firm for banking and finance. Sources say: "An excellent finance team, great for both national and international transactions". Department head Raino Paron has considerable experience and continues to draw praise from all quarters.
CHAMBERS EUROPE, 2012
Raidla Lejins & Norcous is the go-to firm for pioneering financial structures and senior transactions, and its lawyers are ˜highly qualified". Department head Raino Paron is an undisputed leader in the field.