Ellex Raidla has advised Endover Kinnisvara on its issuance of EUR 6.5 million notes.
According to Ellex Raidla, the bond issuer "was the project company Vega Residents OU." The firm reports that "the project was financed entirely through the capital markets and ... more than 50 investors from the Baltics took part in it."
In addition, Ellex Raidla claims, "this was a remarkable project in Estonia as generally in similar projects the capital is involved via banks.
"The success of the issuing is a great recognition for Endover’s work that is done, also it puts a certain obligation and responsibilities on them as the Vega project is definitely a landmark according to which both investors and the market will start to evaluate similar projects," said Ellex Raidla Partner Raino Paron, who led his firm's team on the deal, supported by Senior Associates Gerly Lohmus and Helen Metsar.