Estonia’s Baltika sells €3 million convertibles in oversubscribed deal

By Susanna Moon

Chicago, July 29 – AS Baltika said it issued €3 million of convertible bonds in a public offering in Estonia.

The company sold 600 bonds at €5,000 each, as planned, with subscription for 691 bonds or oversubscription of 1.15 times, according to a press release.

The deal was announced on July 7.

Shareholders were to be allowed to subscribe to the bonds before other investors, and KJK Fund, Sicav-SIF had submitted an obligation to subscribe for all the bonds, the company previously said.

The offering ran from July 14 to July 28 and was approved at Baltika’s annual general meeting on April 28. AS LHV Pank was the agent.

Baltika is a Tallinn, Estonia, fashion retailer that designs, manufactures and distributes its five retail brands in Central and Eastern Europe.

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