Banking & Finance

Ellex Raidla advises on a full range of financing matters and works with banks, investment firms, insurance companies and other financial institutions. We have unrivalled experience in disputes in this field, including landmark disputes on the authorities of regulatory and supervisory bodies. We are also a leading firm in Estonia in IPO and regulatory matters. Our experts have advised on the largest number of restructuring and acquisition transactions that have arisen in the banking sector.
Key projects in the field

  • Securities Market Act
  • Central Registry of Securities Act
  • Law on Investment Funds
  • Credit Institutions Act
  • Development Fund Act
  • Money Laundering and Terrorist Financing Prevention Act
  • Insurance Activities Act
  • Financial Supervision Authority Act

Key contacts

Raino Paron

Partner

Head of Banking & Finance and EU & Competition practice groups
+372 640 7170
crypt:PGEgY2xhc3M9ImVtYWlsIiBocmVmPSJtYWlsdG86cmFpbm8ucGFyb25AZWxsZXguZWUiPnJhaW5vLnBhcm9uQGVsbGV4LmVlPC9hPg==:xx
-

Ermo Kosk

Partner

+372 640 7170
crypt:PGEgY2xhc3M9ImVtYWlsIiBocmVmPSJtYWlsdG86ZXJtby5rb3NrQGVsbGV4LmVlIj5lcm1vLmtvc2tAZWxsZXguZWU8L2E+:xx

Gerli Kilusk

Partner

+372 640 7170
crypt:PGEgY2xhc3M9ImVtYWlsIiBocmVmPSJtYWlsdG86Z2VybGkua2lsdXNrQGVsbGV4LmVlIj5nZXJsaS5raWx1c2tAZWxsZXguZWU8L2E+:xx

Toomas Kasesalu

Counsel

+372 640 7170
crypt:PGEgY2xhc3M9ImVtYWlsIiBocmVmPSJtYWlsdG86dG9vbWFzLmthc2VzYWx1QGVsbGV4LmVlIj50b29tYXMua2FzZXNhbHVAZWxsZXguZWU8L2E+:xx

Martin Mäesalu

Senior Associate

+ 372 640 7170
crypt:PGEgY2xhc3M9ImVtYWlsIiBocmVmPSJtYWlsdG86bWFydGluLm1hZXNhbHVAZWxsZXguZWUiPm1hcnRpbi5tYWVzYWx1QGVsbGV4LmVlPC9hPg==:xx

Helen Ratso

Senior Associate

+372 640 7170
crypt:PGEgY2xhc3M9ImVtYWlsIiBocmVmPSJtYWlsdG86aGVsZW4ucmF0c29AZWxsZXguZWUiPmhlbGVuLnJhdHNvQGVsbGV4LmVlPC9hPg==:xx

Kerstin Jürgenson

Associate

+370 640 7170
crypt:PGEgY2xhc3M9ImVtYWlsIiBocmVmPSJtYWlsdG86a2Vyc3Rpbi5qdXJnZW5zb25AZWxsZXguZWUiPmtlcnN0aW4uanVyZ2Vuc29uQGVsbGV4LmVlPC9hPg==:xx

Ursula Kosk

Associate

+372 640 7170
crypt:PGEgY2xhc3M9ImVtYWlsIiBocmVmPSJtYWlsdG86dXJzdWxhLmtvc2tAZWxsZXguZWUiPnVyc3VsYS5rb3NrQGVsbGV4LmVlPC9hPg==:xx

Anna Trine Raudsepp

Associate

+372 640 7170
crypt:PGEgY2xhc3M9ImVtYWlsIiBocmVmPSJtYWlsdG86YW5uYS50cmluZS5yYXVkc2VwcEBlbGxleC5lZSI+YW5uYS50cmluZS5yYXVkc2VwcEBlbGxleC5lZTwvYT4=:xx

Kadi Sink

Senior Associate

+ 372 640 7170
crypt:PGEgY2xhc3M9ImVtYWlsIiBocmVmPSJtYWlsdG86a2FkaS5zaW5rQGVsbGV4LmVlIj5rYWRpLnNpbmtAZWxsZXguZWU8L2E+:xx

Kevin Gerretz

Lawyer

+372 640 7170
crypt:PGEgY2xhc3M9ImVtYWlsIiBocmVmPSJtYWlsdG86a2V2aW4uZ2VycmV0ekBlbGxleC5lZSI+a2V2aW4uZ2VycmV0ekBlbGxleC5lZTwvYT4=:xx

Andrei Štin

Lawyer

+372 640 7170
crypt:PGEgY2xhc3M9ImVtYWlsIiBocmVmPSJtYWlsdG86YW5kcmVpLnN0aW5AZWxsZXguZWUiPmFuZHJlaS5zdGluQGVsbGV4LmVlPC9hPg==:xx

Key projects in the field

We advised the European Investment Bank (EIB) on the EUR 20 million framework loan to the Municipality of Tartu
The city government of Tartu and the European Investment Bank (EIB) signed a 20 million euro framework loan agreement that will support the city's development plan and investments into education.
 
Through this financing, the EIB expresses its support for small to medium-sized education investments, and small-size municipal infrastructure schemes in Tartu. The investments are also expected to support local "smart city" and energy efficiency targets.
 
Tartu Mayor Urmas Klaas said the European Investment Bank's funding will help to advance the city's school renovation program.
 
The loan to be given to Tartu will be the first EIB loan for an Estonian municipality outside Tallinn.
 
The Ellex Raidla’s team, who acted as an outside counsel to the European Investment Bank (EIB), consisted of Partner Ermo Kosk and Counsel Toomas Kasesalu.
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 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.