United States : Nasdaq Welcomes UPP Olaines to Baltic Bond List
Dec 02, 2018 (Euclid Infotech Ltd via COMTEX) —
Nasdaq (NDAQ) announces that the bonds of UPP Olaines, an Estonian SPV (special-purpose vehicle) founded by United Partners, were listed on Nasdaq Baltic Bond List by Nasdaq Tallinn as of today, November 29, 2018.
The size of the subordinated, commercial property backed bond issue is EUR 6.215 million. The nominal value of one bond is EUR 1,000. The annual coupon rate is 7% which is paid out quarterly. The maturity date of the bond issue is November 10, 2022. UPP Olaines is the owner of Olaine Logistics Park, a modern storage facility with cold-storage in Olaine, Latvia. Its the largest cold-storage facility in Latvia.
United Partners, the owner of UPP Olaines, entered the public market a year ago by listing bonds on First North market. Its great to witness that theyve seen the value in bringing their securities to the public market and are now listing their bonds on the regulated market, meaning the Baltic Bond List, said Kaarel Ots, the CEO of Nasdaq Tallinn.
Were happy that through offering UPP Olaines bonds weve been able to provide investors an investment instrument with a decent yield, especially taking into account the low-interest rate environment were in today, said Siim Sild, Director of United Partners. Its the second instrument in a year and a half that United Partners Advisory has been marketing and listing on the Baltic market. The First North experience was a good preparation for becoming an issuer on the regulated market. The listing follows a non-public offering of the bonds to Baltic institutional investors and high-net-worth individuals.
United Partners (UP) is an independent investment banking firm established in 2003. The company is headquartered in Tallinn and