12:03 18.06.2021

TALLINN, Jun 18, BNS – Estonian commercial real estate investment company Summus Capital announced on Friday that it has completed its debut 10 million euro unsecured bond issue and plans to include the bonds in Nasdaq Baltic alternative market First North.

On June 18, Summus Capital issued unsecured bonds in the amount of 10 million euros with a maturity of three years and a fixed coupon rate of 6.75 percent. The bonds were issued at a price equal to their nominal value, the company said.

Proceeds raised from the bond issue will be used to finance the acquisition of new investment properties in the Baltics.

The bond issue was oversubscribed, with total demand reaching 11 million euros. More than 40 investors from all three Baltic countries, including both institutional investors, such as Baltic bond funds, several banks and investment companies, and private investors, participated in the private placement. Overall, 52 percent of the issue was subscribed by institutional investors and 48 percent by private investors.

The sole arranger of the bond issue was Signet Bank AS. The bank’s capital markets team provides support for Baltic companies in structuring and placing debt and equity transactions on the capital markets.

Summus Capital OU is a real estate investment holding established in 2013 that holds 11 properties in all three Baltic countries. The group possesses a portfolio of cashflow generating commercial real estate properties in retail, office, logistics and medical segments.

Summus Capital started its operations and is headquartered in Estonia, where it holds Veerenni 1 and Veerenni 2 medical centers, de la Gardie and Auriga shopping centers, Punane 56 multifunctional business complex, and a portfolio of warehouse properties.

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