Estonia’s Pro Kapital to open subscriptions for €15 million 8% bonds

By Wendy Van Sickle

Columbus, Ohio, April 20 – Pro Kapital Grupp AS said it will open subscriptions for the fourth tranche of its five-year secured callable fixed-rate bonds.

The company’s supervisory council on April 2, 2015 approved the issuance of up to €50 million of the bonds in several tranches and decided on April 4 to begin the start of the fourth subscription, according to a company notice.

Pro Kapital said with this tranche it is targeting 150 bonds with a nominal value of €100,000 per bond and an interest rate of 8%.

The issue price of each bond will be no less than 97, with the price to be adjusted for the accrued interest, the company said.

The subscription period will be from April 21 through April 29.

Pro Kapital said it reserves the right to issue more bonds in case of oversubscription.

Pro Kapital Grupp is a Tallinn, Estonia-based real estate development company with a focus on modern large-scale commercial and residential real estate in the capitals of Estonia, Latvia and Lithuania.

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