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Lextal Advises Tuul Mobility on Bond Issuance and Trading

Lextal Advises Tuul Mobility on Bond Issuance and Trading

Estonia
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Lextal has advised Tuul Mobility on its EUR 3.1 million bond issuance and application for trading on the Nasdaq Baltic alternative market First North.

Tuul Mobility is an Estonian electric scooter rental service provider. The bonds were accepted for trading by Nasdaq Baltic on April 4, 2022.

According to Nasdaq Baltic, "the size of Tuul Mobility’s issue of secured bonds is EUR 3.1 million. Each bond has a nominal value of EUR 500. They have a fixed annual coupon rate of 10%, with payment twice a year. The bonds mature on March 29, 2027. The listing of the Tuul Mobility bonds follows their public offering by the company to Estonian investors. Based on demand for the bonds of EUR 4.45 million, the offering was 44% oversubscribed. A total of 1757 investors subscribed to the bonds."

Lextal’s team included Partner Kristi Sild and Lawyer Kaisa-Maria Kubpart.