Published: 2017-11-09 08:50:32 CET
Mainor Ülemiste
Company Announcement

The Results of Mainor Ülemiste Non-Public Bond Offereing


The first tranche of Mainor Ülemiste’s EUR 10 M bond issue – the non-public offering in amount of EUR 2 M was oversubscribed by 1.3 times. The company decided to increase the issue size of the first tranche to EUR 2.65 M to satisfy all subscription requests.

Similarly to the issue two years ago, the current offering met wide interest in all three Baltic countries. From the subscribed bonds 51% were acquired by Estonian, followed by Lithuanian and Latvian investors respectively. Persons connected with the Mainor concern subscribed the bonds in amount of proximately EUR 200,000. One third from the 48 investors have hold the Mainor Ülemiste bonds also in the past.

In October AS Mainor Ülemiste announced about the intention to issue bonds in the 4th quarter and in 2018 in amount of up to EUR 10 M, which will be redeemed in 2023. The subscription of the first non-public offering in amount of EUR 2 M ended on the 6th of November. After the offering Mainor Ülemiste will apply for admittance of the bonds to trading on the multilateral trading facility First North. The second offering of the bond will be conducted in April 2018.

The purpose of the issue is to finance the core business of the company and to refinance the Mainor Ülemiste 26.11.2018 bonds. The proceeds from the issue will be used for the development of new projects in Ülemiste City business campus according to the long-term strategy of the company. The bond issue will not bring along substantial increase in issuer’s debt burden nor deterioration of its financial standing.


Margus Nõlvak
Mainor Ülemiste AS, CEO
+372 504 1010