Summus Capital OÜ bond issue

About Group

Founded in 2013, Summus Capital OÜ is a Baltic real estate investment holding company with investment properties in all three Baltic states and headquarters in Estonia. In recent years, the Group has established itself as one of the leaders in Baltic commercial real estate market.

The Group’s strategy is based on investments in cash flow generating commercial real estate with a long-term investment horizon. The Group focuses on sustainable buildings (BREEAM or LEED certified) and the investment portfolio includes well-known anchor tenants.

The Group’s €400 million+ investment property portfolio has substantially grown over the last years and is well-diversified, consisting of properties in retail (shopping centers), office, industrial and medical segments.

Summus Capital has a seasoned management team with more than 25 years of experience in real estate management in the Baltics, providing the Group with strategic guidance and extensive industry knowledge.

Since 2021 the Group has issuer rating of BB (stable) by the leading European rating agency Scope Ratings GmbH, which was most recently affirmed in September 2023.

Additional information: https://summus.ee/for-investors/

Term Sheet

Issuer

Summus Capital OÜ

Sector

Real estate

Security type

Unsecured Notes

Issuer rating

BB (stable) by Scope Ratings

Type

Private placement

Use of proceeds

• Refinancing of the Group’s Existing Notes
• General corporate purposes

Issue size

Up to EUR 15 million

Coupon rate

9.0% – 10.0%

Coupon frequency

Quarterly

Term

11 June 2027 (bullet)

Call Option

• @101% after 1st year
• @100% 3 months before maturity

Nominal value

EUR 1,000

Minimum subscription

EUR 100,000

Listing

Nasdaq Riga First North within 6 months after the Issue Date

Covenants

• Equity Ratio at least 30%
• Debt service coverage ratio (DSCR) at least 1.2x

Arranger

Signet Bank AS

Offer to Existing Noteholders

Exchange Existing Notes for new Notes (1:1 exchange ratio)

Additional information

Summus Capital OÜ
Summus Capital presentation