Hepsor AS plans bond issue

Hepsor AS (registry code 12099216, address Järvevana tee 7b, 10112 Tallinn, Estonia; “Hepsor”) plans to issue bonds (hereinafter the “Bonds”) under its EUR 20 million bond programme. The new issue is planned for the last week of August. Hepsor will provide separate notification regarding the specific terms and volume of the offering.

The net proceeds from the Bonds are planned to be used to finance ongoing development projects and to take advantage of new investment opportunities. The Bonds are planned to be admitted to trading on the Baltic Bond List of Nasdaq Tallinn Stock Exchange. The prospectus and its supplement will be published on the websites of the Financial Supervision Authority, Nasdaq Tallinn Stock Exchange and Hepsor after the approval of the prospectus supplement by the Financial Supervision Authority.

Under the first series of the same bond programme last November, Hepsor raised eight million euros from investors. The base volume of the issue was oversubscribed by 1.4 times, with 1,079 investors from Estonia and Latvia participating.

“We see significant growth in demand for new apartments in Tallinn and Riga. We currently have 513 homes under construction, and this year we plan to start construction of two more residential buildings with 119 apartments. We are open to new opportunities for residential real estate development, and bond financing supports the continued growth of our development portfolio. This allows us to react quickly in situations where launching new projects and initiating the next phases of existing developments requires capital,” said Martti Krass, CEO of Hepsor.

Martti Krass,
Member of the Management Board
e-mail: [email protected]

About Hepsor AS

Hepsor AS (www.hepsor.ee) is a developer of residential and commercial real estate. The Group operates in Estonia, Latvia and Canada. During our fifteen years of operation, we have created 2000 homes and nearly 44000 m² of commercial space. Hepsor is the first developer in the Baltic states to implement a number of innovative engineering solutions that make the buildings it constructs more energy efficient, and thus more environmentally friendly.  The company's portfolio includes a total of 29 development projects with a total area of 195000 m². In addition, the Group is active in five projects in Canada, where the main activity is the preparation of detailed spatial plans for land, thereby achieving greater building rights.

This information constitutes inside information which the company is obliged to disclose pursuant to the EU Market Abuse Regulation (Regulation (EU) No 596/2014). The information was submitted for disclosure via the contact persons indicated above.

This notice is intended for informational purposes only and refers to a possible future offering. It should not be construed as an offer to sell bonds or as an investment recommendation. No sale or public offering of Bonds will take place in any country or jurisdiction until the relevant prospectus or other required offering document has been duly approved, registered or published in accordance with applicable law. Investment decisions should be made solely on the basis of information contained in the prospectus.

This notice may not be distributed in the United States, Canada, Australia, Japan or any other jurisdiction where such distribution would be unlawful. The information contained in this notice does not constitute an offer to sell or a solicitation to buy securities in any jurisdiction.

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