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EUR 500 million tap issuance of government bonds by the Republic of Estonia
Acting as Estonian counsel through international law firm Clifford Chance, we advised Erste Group Bank AG, J.P. Morgan SE and Société Générale, which were acting as joint managers for a EUR 500 million government bond issue by the Republic of Estonia. The bonds were issued under the Euro Medium Term Note (EMTN) Programme and are […]
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Estonia updates laws to support international business and investment
We advised the European Bank for Reconstruction and Development (EBRD) on the technical cooperation project “Development of a Legal and Regulatory Framework for Derivatives in Estonia”. On 15 October 2025, the Estonian Parliament adopted amendments to the Securities Market Act and other related acts, which introduce the uniform application of close-out netting regulation into Estonian […]
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Real estate fund manager in the Baltics changes ownership
We advised Danish Northern Horizon A/S on the sale of its Estonian subsidiary, Northern Horizon Capital AS, the management company of the listed real estate fund Baltic Horizon Fund (BHF). The transaction involves the sale of all 12,500 shares in Northern Horizon Capital AS to the partners of the private investment company Grinvest. Through its […]
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Leading Baltic real estate investment company issues EUR 30 million in bonds
We advised Summus Capital, one of the leading commercial real estate investment companies in the Baltics, on raising EUR 30 million through the public offering of bonds. First-ever public offering available to retail investors This marks the company’s third ever bond issuance; however, the previous two were targeted only at institutional investors. This was their […]
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The largest retail-only bond issue ever conducted in the Baltics
We advised the largest energy company in Estonia, state-owned Eesti Energia, on its EUR 50 million bond issuance targeted exclusively at retail investors. The public offering attracted participation from 4,715 retail investors, making it the largest retail-only bond issue ever conducted in the Baltics. With total demand reaching EUR 94.4 million, it also became the […]