Redgate Capital acts as adviser to real estate developer Mainor Ülemiste, whose second bond issue is now trading on Nasdaq Baltic First North bond market

01 Feb 2018

The Estonian real estate developer Mainor Ülemiste has issued a new bond consisting of up to 26,500 bonds on November 8, 2017. The aggregate value of the bond issue will amount to 2.65 million euros. The nominal value of a bond is 100 euros, coupon rate is 5.5% per annum which is paid out semi-annually. The bonds will mature on April 5, 2023. The company has the right to increase the issue up to 10 million euros. 

“It´s great to see that not only is Mainor Ülemiste leading the creation of a major new contemporary city district in Tallinn, but is doing it in the most transparent way – financing the development by listing issued bonds on First North market designed for ambitious growth companies, offering liquidity for its investors and developing the local capital markets all at once,” said Kaarel Ots, CEO of Nasdaq Tallinn. 

“It’s been over two years since our previous bonds were admitted to trading, so it is only natural development to bring new Mainor Ülemiste bonds to First North. We wish to attract capital via bond or share issues from capital markets in the future and be visible to new potential investors,” said Margus Nõlvak, CEO of Mainor Ülemiste. “Current issue will be admitted to trading on Nasdaq Baltic alternative market First North, but there is a possibility that Mainor Ülemiste’s securities would get listed on regulated market in Nasdaq Baltic bond list if projects and issue size increases.” 

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