Summus Capital bond issue

About Company

Founded in 2013, Summus Capital OÜ is a family owned real estate investment holding company that holds properties in all three Baltic countries.

Summus’ portfolio consists of cash flow generating commercial real estate in retail (shopping centers), office, logistics and medical segments.

Properties are managed by the Group’s strategic partner Zenith Family Office, an independent wealth management company, specialized in cash flow-generating commercial property investments and management.

The management team has more than 25 years of experience in real estate property management in the Baltics.

As a part of sustainability strategy, Summus plans start BREAAM or LEED certification process for at least 50% of the portfolio in 2021 and implement green turnaround in existing properties.

Additional information:

https://summus.ee/investors/

Term Sheet

Issuer

Summus Capital OÜ

Sector

Real estate

Type

Private placement

Security type

Unsecured Notes

Issue size

EUR 10 000 000

Coupon rate

6.75%

Coupon frequency

Quarterly

Price

100%

Term

18.06.2024 (bullet)

Call option

@102% after Y1
@101% after Y2

Nominal value

EUR 1 000

Minimum subscription

EUR 100 000

Covenants

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

Use of proceeds

Ordinary course of business

Listing

Planned listing on Nasdaq First North within 12 months from issue date

Arranger

Signet Bank AS

Additional information

Summus Capital bond issue

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