Estonian Developer Liven Lists First Green Bond on Nasdaq Baltic

Estonian real estate developer Liven has made a significant move by listing its first green bond issue on the Nasdaq Baltic Bond List via Nasdaq Tallinn. This milestone, announced on May 24, 2024, marks the first green bond issue to be listed on the Nasdaq Tallinn stock exchange.

The bond issue, valued at EUR 6.2 million, carries a nominal value of EUR 1,000 per bond. Investors are set to receive a 10.5% annual coupon rate, with payments made quarterly. The bonds will mature on May 23, 2028.

Liven's public bond offering was met with overwhelming demand, with the base amount set at EUR 4 million. The offering was oversubscribed by 3.6 times, attracting EUR 14.5 million in demand from 2,819 investors.

Why this matters:

This green bond issue marks a significant step towards sustainable development in the Baltic region, showcasing the growing interest in environmentally friendly investments. The success of this issue may pave the way for more companies to explore green financing options, contributing to a more sustainable future.

Kaarel Ots, CEO of Nasdaq Tallinn and Head of Nasdaq Baltic Stock Exchanges, expressed his enthusiasm: *'It's great to see another ambitious Estonian company using the power of the public market to finance their growth and at the same time provide new investment opportunities for the Baltic investors.'*

Andero Laur, CEO of Liven, highlighted the strategic importance of the raised capital: *'The raised capital allows Liven to grow and acquire new properties for development, where we can build environmentally friendly, well-thought-out and excellently designed homes.'*

The success of Liven's bond offering and subsequent listing underscores the growing interest in green finance within the Baltic region. By tapping into the public market, Liven aims to enhance its transparency and credibility as a public company, while also contributing to sustainable development.

In summary, Liven's first green bond issue represents a significant step in its growth trajectory, providing the necessary capital to expand its portfolio of environmentally friendly developments. The strong investor response highlights the confidence in Liven's strategic vision and the broader appeal of sustainable investment opportunities in the Baltic market.

Key Takeaways

• Liven lists first green bond issue on Nasdaq Baltic Bond List.
• Bond issue valued at EUR 6.2 million with 10.5% annual coupon rate.
• Offering oversubscribed by 3.6 times, attracting EUR 14.5 million in demand.
• Funds to be used for environmentally friendly property development.
• Success paves way for more green financing options in the Baltic region.