LKOS Law Office Advised Signet Bank AS on Refinancing and Collateral Arrangements

LKOS Law Office advised Signet Bank AS on the Finnish law aspects of its EUR 5 million refinancing loan facility and related collateral package.

About Signet Bank

Signet Bank is Latvia's leading investment bank, founded in 1991 as one of the first financial institutions in independent Latvia. The bank provides sustainable financing and investment solutions to Baltic-region entrepreneurs. Since 2021, Signet Bank has raised over EUR 500 million for more than 40 Latvian companies through bond and equity issues. As of 2024, the bank manages EUR 1.6 billion in client assets, making it the leading arranger of corporate securities offerings in Latvia and one of the strongest stockbrokers in the Baltics.

Our Role

Signet Bank sought our support in connection with a refinancing arrangement involving cross-border security. Our mandate focused on ensuring that the collateral structure complied with Finnish security, guarantee and transaction formalities — clearly, efficiently and without unnecessary complexity.

Working closely with the client, our team advised on the legal framework for Finnish-law security, helped structure and implement the collateral package, and coordinated the practical steps required for smooth execution.

This engagement reflects the type of work we do best: enabling clients to move forward with clarity and confidence, supported by legal advice that is both technically sound and pragmatically delivered.

Background on Shareholders

Signet Bank's shareholders include eighteen Latvian and international private investors. The largest shareholders are:

• Signet Acquisition III (sole shareholder: U.S. investor Aleksandrs Solovejs)
• AS RIT Group (owned by the Rapoport family)
• SIA Reglink (founded by banking professional Irīna Pīgozne)

For more information on our services, explore Contracts & Commercial Law and Corporate Finance & M&A.

Frequently Asked Questions

What was LKOS Law Office's role in the Signet Bank refinancing?

LKOS advised on Finnish-law security, guarantees, and transaction formalities for a EUR 5 million refinancing loan facility, ensuring the collateral structure complied with local requirements.

Who is Signet Bank AS?

Signet Bank is Latvia's leading investment bank, providing sustainable financing solutions and managing EUR 1.6 billion in client assets.

Why is Finnish-law security important in cross-border finance?

When collateral is located in Finland, lenders must comply with Finnish security and guarantee legislation to ensure enforceability and mitigate transactional risk.

Responsible lawyers: Liene Krumina and Oscari Seppälä