News

Summus Capital registers new unsecured notes issue in the amount of EUR 15 million and offers existing noteholders to exchange to new notes

11:39 22.05.2024

In order to refinance existing notes within ISIN LV0000802478 and to raise funds for further expansion of its property portfolio, on 21 May 2024 Summus Capital has submitted documents to Nasdaq CSD to register new unsecured notes issue with the following characteristics:

Issuer                                        Summus Capital OÜ

ISIN                                           LV0000860187

Type of security                         Unsecured notes

Issue size                                  up to EUR 15,000,000

Nominal value of 1 note            EUR 1,000

Annual coupon rate                  9.50%

Coupon payment frequency     Quarterly

Maturity                                    11 June 2027

Principal repayment                 At maturity

Issuer rating                             BB/Stable by Scope Ratings GmbH

Notes issue will be structured as private placement with EUR 100,000 minimum investment. See Terms of Issue attached.

Signet Bank AS acts as the Arranger of the notes issue, while AS LHV Pank has been appointed as the Sales Agent for the Estonian market.

 

Offer to existing investors.

From 22 May 2024 to 4 June 2024, noteholders of LV0000802478 notes with maturity on 18 June 2024 who wish to continue investing in Summus Capital OÜ notes are offered the opportunity to exchange their existing notes for new notes with a fixed coupon rate of 9.5% and maturity of 3 years.

Noteholders of LV0000802478 notes will receive information from their custodian banks with instructions on how to participate in the exchange offer. Only those existing noteholders with a minimum holding of EUR 100,000 are eligible to participate in the exchange offer.

For any questions please contact:

Signet Bank AS

+371 6708 1028, invest@signetbank.com

Summus – Terms of Issue – 21 May 2024 signed.pdf