Ellex Raidla has advised Endover Kinnisvara on a EUR 7.5 million bond issuance.
The bonds — the second issued by the company — will allow for the development of the Fabrik residential and E, which forms part of the former Baltic Manufactory complex.
The purpose of the development is to create a prominent city district in the former production building in the north of Tallinn.
"The issuance of the Fabrik development bonds is planned in two parts and its total volume is 10 million euros," said Endovers’ CEO Robert Laud. "In the first part, the goal was to raise 5.5 million euros but the investors' interest was very high and there were significantly more subscription applications - more than 7 million euros."
Ellex Raidla's team included Partner Raino Paron and Senior Associate Helen Ratso.