Liven Kodu 17 OÜ, a subsidiary of Liven AS, issued 20 mortgage-backed bonds with a nominal value of 100,000 euros in a total amount of 2 million euros with a redemption date of 31.03.2023 through a non-public offer. The proceeds from the issue will be used to finance the project of Juhkentali 48.

 

According to Andero Lauri, CEO of Liven AS, the proceeds from the issue will be used for the construction of a new residential and commercial building near Tallinn Bus Station. "This property is located in a rapidly developing area, the value of which is shaped by the planned major development on Sossi Hill as well as the large-scale project of Tallinn Central Market," Laur explained.

 

According to Andero Lauri, today's home buyer appreciates the downtown and the nearby locations: “In the Juhkentali area, there are important and decision-making factors in choosing a home: schools, sports facilities and various leisure opportunities. The city center is also just a short walk away.” The new commercial and residential building will be completed by the end of 2023.

 

Liven was advised on the bond issuance by Ellex Raidla's Partner Ermo Kosk and Counsels Toomas Kasesalu and Rain Raa.

 

LHV’s pension funds are set to invest up to 14 million euros in the bonds of the renewable energy company Sunly Land. With the investment, the company plans to grow its renewable energy portfolio, extending its business operations in Poland.

 

The pension fund investment will be made in the form of bonds with an interest rate of 8%. The renewable energy company’s bonds will be redeemed after five years.

 

LHV pension fund portfolio manager Maarja Pärs says that three important aspects make the Sunly investment special. “We’re contributing to the growth of Estonian capital abroad, we’re championing the rise of green energy and we’re earning decent returns for our pension clients,” she said. “So that’s three good things in one.” Pärs added that in making investments LHV is always guided by the principle that every injection of capital should be based on mutually beneficial relations. “Sunly’s growing very nicely at the moment and we feel we can be of use to each other as it continues to grow,” she explained.

 

In addition to Poland, Sunly is also constructing solar parks in Estonia, where the company is developing wind parks both on land and at sea. In its 1,5 year of operations, it has invested 25 million euros in renewable energy.

 

LHV pension funds are managed by AS LHV Varahaldus. The funds have approximately 185,000 clients. LHV offers both actively and passively managed II and III pillar pension funds valued at almost 1.5 billion euros in total.

 

LHV pension funds were advised on the investment by Ellex Raidla’s Partners Ermo Kosk and Gerli Kivisoo, and Counsels Toomas Kasesalu and Rain Raa.

 

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Fuel company Alexela Varahalduse AS and state credit body KredEx reached an agreement for a coronavirus loan of €37 million, allowing the company to maintain more than 500 jobs at oil shale producer Kiviõli Keemiatööstus, managed by Alexela Group.

 

KredEx chief Ivo Kuldmäe said it is important to support companies all over Estonia and to offer them support to allow them to bypass difficulties stemming from the coronavirus crisis. New investments are also important.

 

Kuldmäe said: "Along with the crisis measures, we have made more than €452 million available to 778 entrepreneurs. Some of that has gone to overcome coronavirus difficulties, but some of it also has gone to making necessary investments for business development."

 

The freshly appointed KredEx chief added: "The key of putting crises behind us always lies in cooperation, which is why companies, banks and the state must work together to overcome difficulties and realize new opportunities. The loan given to Alexela allows us to maintain more than 500 jobs in Ida-Viru County, making up almost a third of all concern employees. It is a good example of just this type of cooperation."

 

The loan agreement sees 40 percent of Alexela Varahalduse AS' shares as collateral and the collateral is also supplemented by Alexela group resources. Alexela must maintain the aforementioned 500 jobs at Kiviõli Keemiatööstus as per conditions of the agreement.