Published: 2018-04-27 16:50:00 CEST

Subscription to Baltic Horizon Fund Notes in the amount EUR 30 million completed

Baltic Horizon Fund (Fund) assigned 'MM3' Mid-Market Evaluation Rating by S&P Global Ratings has completed subscription to 5-year Unsecured Notes (Notes) of EUR 30 million (30,000 Notes with nominal value of EUR 1,000 each). The Notes bear a fixed rate coupon of 4,25% to be paid quarterly. The transaction took place under private placement regime and was subscribed by Baltic institutional investors, mainly comprised of pension funds, asset managers, insurance companies and banks. The issuer will apply for listing of the Notes on Nasdaq Tallinn.

Proceeds from the Notes will be used for refinancing of loans and for general corporate purposes, including investment activities.

„At Baltic Horizon we are extremely pleased to successfully enter the Baltic bond market with this transaction. It will give the fund a long term benefit of a more diversified capital structure, which is supported by the leading regional institutional investor base. By reducing bank loan amortization payments we are more able to utilize Fund’s free cash flow for the purpose of our core activity,“ comments Tarmo Karotam, fund manager of the Fund.

 “The deal is very special and important to us as the arranger. We have been through a very interesting structuring and execution process that finally enabled us to find a really great match of interests by the issuer and Baltic institutional investors”, comments Paulius Zurauskas, Head of Capital Markets, Baltic Division, SEB.

Additional information:

Tarmo Karotam
Baltic Horizon Fund manager
E-mail tarmo.karotam@nh-cap.com
www.baltichorizon.com

The Fund is a registered contractual public closed-end real estate fund that is managed by Alternative Investment Fund Manager license holder Northern Horizon Capital AS.

Distribution: Nasdaq, GlobeNewswire, www.baltichorizon.com