We advised Endover Kinnisvara in connection with 6.5 MEUR bond issue
Ellex Raidla advised Endover KVB OÜ in connection with a 6.5 MEUR bond issue. The issuer of the bonds was a project company Vega Residents OÜ established for development of a 12 storey building in Lasnamäe comprising of 300 apartments.
Our team assisted Endover KVB OÜ and Vega Residents OÜ with preparation of the documentation and in negotiations. The project was financed entirely through capital markets and of more than 50 investors in a total from the Baltics took part in it. The project was remarkable, because in similar projects in Estonia capital is generally sourced via banks.
„The success of the issue is a great recognition to the work done by Endover, at the same time it puts certain obligations and responsibilities to them as the Vega project is definitely a „landmark“ according to which both investors and the market will start to evaluate similar projects," said Raino Paron, partner in Ellex Raidla.
Ellex Raidla experts that were involved in the project were partner Raino Paron, senior associates Gerly Lõhmus and Helen Metsar.