The subscription period for Estonian real estate developer Invego’s secured bonds with an 11% annual interest rate is coming to an end – investors have until Thursday, May 22, at 3:30 PM to subscribe to the bonds.
Invego Latvia OÜ, an Estonian company belonging to the Invego group, is issuing up to 4,000 secured bonds with a nominal value of 1,000 euros each. In case of oversubscription, the number of bonds may be increased. The bonds have a 4-year term, a fixed interest rate of 11% per annum, and interest will be paid quarterly. The bonds are secured by a pledge on 100% of Invego Latvia SIA shares. The bonds are planned to be listed on the Nasdaq Tallinn Stock Exchange’s alternative market, First North.
Baltic retail and institutional investors can submit subscription orders at all investment service-providing banks in the Baltic countries. An active securities account is required for subscription, and the minimum subscription amount is 1,000 euros. Since banks may stop accepting subscription orders via internet banking at an earlier time, it is recommended to submit electronic orders by noon on May 22 at the latest. The results of the offering will be announced on May 26, and the first trading day for the bonds is planned soon thereafter.
The raised funds will be directed toward additional financing of residential real estate development projects in Latvia, where Invego has 12 development projects in progress. The money will be used to finance development activities, ensuring the successful implementation of construction phases and providing necessary co-financing alongside bank loans and existing investors.
“Our experience in Riga proves that real estate there is currently more affordable compared to Tallinn, demand is higher, and customers’ expectations for improving living standards are growing rapidly. Invego is already selling more homes in Latvia than in Estonia this year,” says Invego CEO Kristjan-Thor Vähi.
More detailed terms of the offering are available on the company’s website at: www.invego.ee/investor.
Additional information:
This is a securities advertisement within the meaning of EU Regulation 2017/1129/EU. The issuer is Invego Latvia OÜ. Before deciding, please familiarize yourself with the terms of the offer, risks, and other information: www.invego.ee/investor. This information is not advice, an offer, or an invitation to purchase securities. If necessary, consult with an expert. Bonds are offered only in Estonia, Latvia, and Lithuania.