Published: 2018-03-13 11:39:20 CET
Mainor Ülemiste
Company Announcement

Mainor Ülemiste: Early Redemption of 26.11.2018 Notes and Supplementary Issue of 05.04.2023 Bonds


The Management Board of Mainor Ülemiste AS has decided to use the early redemption provision stated in the Terms and Conditions of the Mainor Ülemiste 26.11.2018 notes (ISIN code: EE3300110691; “the 2018 Notes”) on 26.05.2018. All redemption payments and deletion of the Notes will take place on 28.05.2018 according to the Terms and Conditions. With the early redemption the noteholders will be paid the nominal value of the notes and the interest for the last quarter in amounts of EUR 1,000.00 and EUR 17.50 respectively per note. The redemption- and interest payments will be made to persons, who are owners of the notes as of the end of the settlement day of Nasdaq CSD Estonian settlement system on 22.05.2018.

Hereby we also inform that the Management Board has approved the Final Terms of the Additional Bond Issue of Mainor Ülemiste 05.04.2023 Bonds (ISIN code EE3300111343; „the 2023 Bonds“) and has decided to conduct the supplementary non-public offering in amount of up to 7.35 million euros. The offering is targeted most of all to the owners of Mainor Ülemiste 2018 notes and to other sophisticated investors in the Baltic states. After the completion of the issue of 2023 Bonds, Maior Ülemiste will apply for admission to trading of the newly issued bonds on the Multilateral Trading Facility First North.

During the offering the owners of the 2018 Notes have the possibility to subscribe for the new 2023 Bonds, at the same time instructing to sell back the 2018 Notes in the equal nominal amount and accepting the netting of the claims deriving from the sale-purchase. In case of accepted subscription, the sellers will receive the interest payment of 7.58 euros for the period 26.02 – 05.04.2018 per every Note. In addition, the investors selling back the Notes will be compensated the difference of interest rates of 2018 Notes and 2023 Bonds for the period 05.04 – 26.05.2018 in amount of 2.125 euros per Note. All mentioned payments and the repurchase of 2018 Notes will take place with value date 05.04.2018, simultaneously with the issuance of the new 2023 Bonds.

Together with the refinancing of the 2018 Notes the purpose of the new issue is to finance the core business of the company. 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


Phone: +372 504 1010


         Mainor Ülemiste AS
         Valukoja 8
         11415 Tallinn, Estonia
         Tel: +372 5304 6992

Mainor Ülemiste at Nasdaq