OREANDA-NEWS. April 20, 2012. SORAINEN Estonia advised the London branch of Deutsche Bank, a leading global investment bank, and Nordea, the largest bank in the Nordic area, as joint lead managers and joint bookrunners on Estonian law matters in a Eurobond issue by Eesti Energia. Eesti Energia is an Estonian state-owned company with operations in the Baltics, Finland, Jordan and the US, which provides complex energy solutions from heat, electricity and fuel to sales, maintenance and additional services, reported the press-centre of SORAINEN. 

The bond, amounting to EUR 300 million, matures in 2018 and pays annual interest at the rate of 4.25%. The bond is listed on the London Stock Exchange.

Proceeds of the bond issue will be used for general corporate purposes, including financing capital expenditure programme. This is one of the very few Eurobond issues by an Estonian issuer.

Regardless of the current state of the financial markets, the deal attracted a diverse range of investors from different countries and the bond issue was 2.2 times oversubscribed.

The clients were advised by partner Reimo Hammerberg, senior associate Jane Eespold and associate Helen Ginter.