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Ellex Raidla Advises LHV Group on Public Offering

Ellex Raidla Advises LHV Group on Public Offering

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Ellex Raidla has advised LHV Group AS regarding the public offering of additional subordinated bonds. The public offering is carried out only in Estonia.

According to Ellex, LHV offered up to 15,000 additional subordinated bonds under the name of LHV Group with a nominal value of EUR 1,000. The interest rate offered to the investor is 6.0% per year and the maturity date end of 2028. 

In addition, Ellex reports that LHV has the right to increase the offering volume until the issue date by EUR 5 million and issue up to 5,000 additional subordinated bonds, which as a result may be increased up to 20,000 and the total volume of the offering may rise to EUR 20 million. 

The offering is the second series of the LHV bond program, created on the basis of the Prospectus. Under the program, LHV has the possibility to issue subordinated bonds in a total volume of up to EUR 45 million in the course of several issues.

In 2018 Ellex advised LHV on a previous public offer, listing, and admission to trading of subordinated bonds (as reported by CEE Legal Matters on November 12, 2018).  

The Ellex team consisted of Partner Gerli Kilusk and Associate Kadi Sink.