Nasdaq Welcomes United Partners to First North

Tallinn/Riga/Vilnius, Nasdaq Baltic Market - 12.06.2017

Nasdaq (NDAQ) announces that the bonds of UPP & CO KAUNO 53 OÜ, an Estonian SPV (special-purpose vehicle) founded by United Partners Property, will be admitted to trading on Nasdaq Baltic First North market by Nasdaq Tallinn as of today, June 12, 2017.

The size of the subordinated, commercial property backed bond issue is EUR 4.7 million. The nominal value of one bond is EUR 1,000. The annual coupon rate is 8% which is paid out quarterly. The maturity date of the bond issue is April 17, 2022. UPP & CO KAUNO 53 is the owner of Rimi central logistics center at Kauno 53, Vievis, Lithuania.

"First North is a market for growth companies which have ambition to accomplish great things, be transparent and improve corporate governance. United Partners matches these criteria perfectly," said Kaarel Ots, CEO of Nasdaq Tallinn.

"We decided to go to First North in order to provide investors with an easy and transparent way to sell or buy the bonds if they want to," said Siim Sild, Associate at United Partners. "The bonds will mature in 5 years which is a rather long period of time and therefore it is important to have the option to trade. We also believe that the admittance to trading of the bonds will provide us with a wider range of capital raising sources for our future projects."

The admittance to trading follows the non-public offering of the bonds to Baltic institutional investors and high-net-worth individuals. The issue was fully subscribed by investors and the proceeds of the issue were used to acquire Rimi LC Property.

United Partners (UP) is an independent investment banking firm established in 2003. The company is headquartered in Tallinn and its core businesses are corporate finance advisory services (United Partners Advisory), direct equity investments (United Partners Investments), asset management services (United Partners Asset Management), and real estate development (United Partners Property).

UPP & CO KAUNO 53 was advised by Law Firm TGS Baltic during the process of admittance to trading to the First North market.
 

About First North 
First North is regulated as a multilateral trading facility, operated by the different exchanges at Nasdaq. It does not have the legal status as a regulated market in the EU. The regulatory demands are less extensive than on the regulated market and hence there is a higher risk connected to investments on First North. This can also mean higher earnings potential on investments. First North provides a large investor base since it operates on the same trading and settlement systems as the Baltic regulated market.

About Nasdaq 
Nasdaq (Nasdaq: NDAQ) is a leading provider of trading, clearing, exchange technology, listing, information and public company services across six continents. Through its diverse portfolio of solutions, Nasdaq enables customers to plan, optimize and execute their business vision with confidence, using proven technologies that provide transparency and insight for navigating today's global capital markets. As the creator of the world's first electronic stock market, its technology powers more than 85 marketplaces in 50 countries, and 1 in 10 of the world's securities transactions. Nasdaq is home to 3,800 listed companies with a market value of $10.1 trillion and over 18,000 corporate clients. To learn more, visit: nasdaq.com/ambition or business.nasdaq.com.