Ellex Raidla has advised the LHV Group on the public offering of its EUR 25 million subordinated bonds.
According to Ellex, “as the initial issue volume was oversubscribed, LHV Group used its right to increase the issue volume to the permitted maximum of EUR 35 million. Altogether 3,069 investors participated in the issue, subscribing to subordinated bonds for a total of EUR 85.3 million. This means that the initial issue volume was oversubscribed 3.4 times. As a result of the issue, the LHV Group issued subordinated bonds with a nominal value of 1,000 euros, an interest rate of 6.0% per annum, and a maturity date of 30 September 2030. The bonds will be listed on the Nasdaq Tallinn Stock Exchange.”
Ellex’s team included Partner Gerli Kilusk and Senior Associates Kadi Sink, Alla Kuznetsova, and Anneli Krunks.