Baltic Horizon Fund has completed a private placement of 5-year bonds and issued bonds with a total aggregate volume of EUR 42,000,000 with final maturity on 8 May 2028 (420 bonds with a nominal value and price of EUR 100,000 per bond). The bonds bear a coupon of 8% + EURIBOR 3-months per annum and the coupon on the bonds will be paid quarterly.

Baltic Horizon Fund is planning to partially redeem the bonds (in the amount of EUR 20,000,000) within one year from the issue date. The issuer has also retained the early redemption right for the remaining bonds of EUR 22,000,000. The Fund will apply for listing of the bonds on Nasdaq Tallinn stock exchange.

Proceeds from the bonds were fully used for refinancing of the Baltic Horizon Fund bonds redeemed on 8 May 2023.

Luminor acted as a sole arranger for this transaction.

„We have worked with the investor community for almost a year to find a suitable refinancing structure and conditions acceptable for the parties and are content to reach this final agreement. At the same time Baltic Horizon Fund maintains a target to deleverage its portfolio to below 50% and the Fund remains committed to invest in the enhancement of its centrally located real estate assets in the Baltic capital cities. We believe in the long term potential of such strategic locations and think that mixed-use properties that entail various reasons for clients to visit will be successful in the future“, comments Tarmo Karotam, fund manager of Baltic Horizon Fund.

For additional information, please contact:        

Tarmo Karotam
Baltic Horizon Fund manager
E-mail tarmo.karotam@nh-cap.com
www.baltichorizon.com

Baltic Horizon Fund is a registered contractual public closed-end real estate fund managed by Alternative Investment Fund Manager license holder Northern Horizon Capital AS.

Distribution: GlobeNewswire, Nasdaq Tallinn, Nasdaq Stockholm, www.baltichorizon.com