Offering results of the bonds of Summus Capital OÜ

The public offering of bonds by Summus Capital OÜ (register code 12838783, “Summus”)  (the “Offering”) concluded on Friday, 20 June 2025. The Offering was conducted based on the prospectus registered by the Estonian Financial Supervision and Resolution Authority on 9 June 2025.

As part of the Offering, Summus offered up to 30,000 bonds to retail and institutional investors in Estonia, Latvia, and Lithuania. Each bond had a nominal value of EUR 1,000, a maturity date of 30 June 2029, and a fixed annual interest rate of 8%, payable quarterly. Interest payments will be made on 30 March, 30 June, 30 September, and 30 December. The first interest payment will take place on 30 September 2025.

The total demand for the public offering reached EUR 38.3 million, with 977 unique investors participating. Retail investors from Estonia, Latvia, and Lithuania subscribed for bonds in the amount of EUR 25.7 million, representing 67% of the total demand. Institutional investors subscribed for EUR 12.6 million, accounting for the remaining 33%.

Estonian investors subscribed for bonds amounting to EUR 17.8 million (47% of the total subscribed volume), Latvian investors for EUR 7.5 million (19%), and Lithuanian investors for EUR 13 million (34%).

The management board of Summus has approved the allocation of bonds based on the following principles:

The allocation was carried out according to the following principles:

1.     all subscription orders from the same subscriber were summed up;

2.     subscription amounts up to and including EUR 100,000 were fully allocated:

3.     for subscription amounts exceeding EUR 100,000, the first EUR 100,000 was fully allocated, and 67% was allocated from the portion exceeding EUR 100,000.

“The trust and active participation of investors clearly show that our business model, built on a high quality and diversified commercial real estate portfolio across the Baltics and Poland, meets expectations,” said Aavo Koppel, Member of the Management Board at Summus Capital OÜ. “We are pleased that so many individuals and organizations believe in our long term strategy and want to be part of it. This gives us the confidence to move forward with new investments and growth plans.”

“The successful public bond offering by Summus Capital represents a significant milestone, standing as the largest domestic public offering  in the Baltic real estate sector this year,” said Kristiana Janvare, Head of Investment Banking at Signet Bank. “The strong subscription results reflect investor confidence in Summus’ strategy, which is anchored in long-term lease agreements with reputable international tenants and a well-diversified portfolio. The proceeds from the bond issue will support new investment opportunities, while providing investors with a stable 8% annual fixed return.”

The bonds are expected to be transferred to investors’ securities accounts on or around 30 June 2025. Trading on the Baltic Bond List of Nasdaq Tallinn Stock Exchange is anticipated to commence on or around 1 July 2025.

The public bond offering was organised by LHV, Signet Bank and Orion Securities. Sorainen acted as the legal advisor.