Estonia’s Mainor Ülemiste calls 2018 notes, sells €7.35 million bonds

New York, March 13 – Mainor Ülemiste AS said it will redeem its notes due Nov. 26, 2018 and offer up to €7.35 million of new bonds due 2023.

The existing notes will be repaid on May 26 at par plus accrued interest, according to a news release.

Mainor Ülemiste will offer the new bonds to holders of the existing notes and to other sophisticated investors in the Baltic states.

Holders of existing notes who participate in the offering will receive the new bonds and have their existing notes redeemed on May 4. They will receive accrued interest on the existing notes up to May 24 and receive compensation for the difference in the interest rates for the period from May 4 up to the redemption date of May 26.

Proceeds from the new issue will be used to refinance the 2018 notes and to finance the core business of the company, specifically to develop new projects in the Ülemiste City business campus.

Mainor Ülemiste is a Tallinn, Estonia, company redeveloping a former heavy machinery factory into the Ülemiste City district for innovative and knowledge-driven companies.

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