Ellex has advised Volta SKAI on an EUR 8 million bond issuance.
Volta SKAI is an Estonian company operating under the brand of local real estate developer Endover.
According to Ellex, the bond issuance "attracted exceptional investor interest, with subscriptions reaching EUR 17.7 million – 2.2 times oversubscribed. The public offering drew 112 investors from across the Baltics, including investment funds, asset management companies, and experienced private investors. Due to high demand, bonds were ultimately allocated to 61 investors, with a minimum investment threshold of EUR 100,000."
"The capital raised from the bonds will be used to refinance existing obligations and to finance the construction of the first tower of the Volta SKAI high-rise," the Endover press release stated. "The project with two 12-story towers will become North Tallinn’s new landmark with panoramic views of Tallinn Bay and the Old Town."
The Ellex team included Partner Gerli Kivisoo, Senior Associate Kevin Gerretz, and Lawyer Hendrik Viimsalu.
