Hepsor AS (registry code 12099216, address Järvevana tee 7b, 10112 Tallinn, Estonia; “Hepsor”) plans to issue bonds (hereinafter the “Bonds”) under its EUR 20 million bond programme. The new issue is planned for the last week of August. Hepsor will provide separate notification regarding the specific terms and volume of the offering.
The net proceeds from the Bonds are planned to be used to finance ongoing development projects and to take advantage of new investment opportunities. The Bonds are planned to be admitted to trading on the Baltic Bond List of Nasdaq Tallinn Stock Exchange. The prospectus and its supplement will be published on the websites of the Financial Supervision Authority, Nasdaq Tallinn Stock Exchange and Hepsor after the approval of the prospectus supplement by the Financial Supervision Authority.
Under the first series of the same bond programme last November, Hepsor raised eight million euros from investors. The base volume of the issue was oversubscribed by 1.4 times, with 1,079 investors from Estonia and Latvia participating.
“We see significant growth in demand for new apartments in Tallinn and Riga. We currently have 513 homes under construction, and this year we plan to start construction of two more residential buildings with 119 apartments. We are open to new opportunities for residential real estate development, and bond financing supports the continued growth of our development portfolio. This allows us to react quickly in situations where launching new projects and initiating the next phases of existing developments requires capital,” said Martti Krass, CEO of Hepsor.
