Financials & Investments

Ellex Raidla advises clients on the most significant finance transactions in the region. We represent leading financial institutions, financial service and investment companies, a diverse group of national and regional investment banks, credit card and insurance companies and other financial institutions. We have vast experience as corporate, regulatory, intellectual property, and litigation counsel. Our experts also assist companies who seek to operate on a cross-border basis and to comply with EU passporting and general good provisions or with applicable restrictions or requirements.
Key projects in the field

Key contacts

Gerli Kilusk

Partner

+372 640 7170
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Raino Paron

Partner

Head of Banking & Finance and EU & Competition practice groups
+372 640 7170
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Key projects in the field

Ellex Raidla advised Magnetic MRO on the issuance of bonds
Magnetic MRO, a global provider of Total Technical Care for aircraft operators and lessors, issued bonds in the total aggregate value of EUR 8 million. Capital raised with the bond issue will be used for acquiring a competitor operating in the same industry and further expanding Magnetic MRO’s business. In February Nasdaq (NDAQ) announced that the bonds of Magnetic MRO were admitted to trading to the Nasdaq Baltic First North by Nasdaq Tallinn.
 
Magnetic MRO is a Total Technical Care maintenance and asset management organisation with a global presence and two decades of worldwide experience. The company has a well-established reputation in innovative solutions in digitalised MRO services and proven track record as a one-stop total technical care organization for airlines, asset owners, OEMs and operators.
 
The CEO of Magnetic MRO Risto Mäeots believes in a warm reception from the Baltic capital market: “Magnetic MRO has expanded rapidly in the last couple of years. Despite our fast growth, we hold a very small percentage of the global aircraft maintenance market and there is a lot of room for us to gain a bigger market share. Furthermore, our expansion plans are supported by the industry’s overall stable growth.”
 
Magnetic MRO was advised by Ellex Raidla’s Partner Raino Paron and Senior Associate Helen Ratso.
We advised LHV Varahaldus AS on the financial transaction where Nordica expanded its fleet
State-owned Estonian flag carrier airline Nordica is expanding its fleet with yet another Bombardier CRJ900 jet, the purchase and leasing to Nordica of which was financed by state-owned fleet owner Transpordi Varahaldus OÜ (TVH) issuing €10 million worth of bonds purchased in equal shares by LHV pension funds and LHV Bank.
 
LHV pension funds manager Romet Enok noted that their investment in TVH bonds offers a higher yield than can be found elsewhere on the international market under current conditions.
 
The new aircraft has already been employed in serving flights for the Scandinavian carrier SAS.
 
The financial transaction was advised by our Partner Ermo Kosk and Counsel Toomas Kasesalu.
 
To read more click HERE.
We advised Inbank in connection with 3.15 MEUR bond issue
Inbank issued AT1 bonds through private placement in the amount of 3.15 million euros. AT1 is a novelty for Estonian investors, which belongs to Tier 1 capital of the bank.
 
AT1 or Additional Tier 1 is a novel hybrid instrument in Estonian banking, having characteristics of both subordinated debt and equity, but belonging to Tier 1 capital in terms of capital adequacy calculation. For the investor, risk level and also the yield of AT1 bond is higher than that of an ordinary subordinated bond.
 
“AT1 bond is a complex instrument, issued in Estonia for the first time. With the issue, we wanted to test investors’ interest for bonds with perpetual term and higher risk. We are happy to announce that investors’ interest in our bond was higher than expected and we raised more capital than we initially anticipated,” said, Chairman of Supervisory Board of Inbank, Priit Põldoja.
 
Launched as a bank in 2015, Inbank provides services through its Internet bank and partner network. Inbank operates in the Estonian, Latvian, Lithuanian and Polish consumer financing market. In addition, Inbank raises international deposits from the German and Austrian market.
 
Inbank was advised by our Partner Raino Paron and Senior Associate Helen Ratso.