Everaus Kinnisvara is an ambitious real estate developer, celebrating its 10th anniversary this year. We build energy-efficient, integrated living and business environments with unique architecture and user-friendly planning in locations with good infrastructure. Our journey began in 2015 with the development of a private houses in Uuesalu, Rae parish, but today our portfolio includes apartment buildings, townhouses, semi-detached houses, as well as office spaces, warehouse and stock-office spaces, and mini-warehouses.

Everaus Kinnisvara is distinguished from other developers by its strong focus on energy efficiency, design and holistically designed environments.

While many market participants focus only on residential or only commercial real estate, Everaus Kinnisvara has chosen a more ambitious direction, developing in both sectors. Our development portfolio is also diverse within the sector, as we build apartment buildings, terraced houses, semi-detached houses and private houses, as well as office space, warehouse and stock-office space and mini-warehouses. Our residential real estate projects are sales projects. However, we develop commercial real estate as cash flow projects with the aim of renting out to spread the risks, which is why we retain ownership of the constructed commercial buildings.

Our strength is strategic management based on in-depth and long-term knowledge and experience, and the ability to manage the entire development cycle from the planning to the after-sales service of residential real estate and the management of commercial real estate.

Everaus Kinnisvara will use the capital raised through the bonds to provide additional financing for real estate development projects that have reached the construction stage (Luige Kodud, Kindluse Kodu, Haabersti mini warehouses, Lennuradari business complex expansion). The properties for the development of these projects have been acquired and construction has begun or is about to begin.

Everaus Kinnisvara‘s bond issue is aimed at institutional and retail investors in Estonia, Latvia and Lithuania.

Everaus Kinnisvara is issuing bonds for the first time, but we have long-term experience in raising capital with several private and institutional partners. We are an open company that values ​​the investor community, and our shareholders include 57 minority shareholders.

A bond is a fixed-income, freely transferable financial instrument. By subscribing and acquiring bonds, investors provide the issuer with a loan in the amount of the nominal value of the bonds, and the issuer becomes obligated to the investors to repay the principal amount of the loan to the bondholder after the loan term has expired (on the redemption date). Until the date of redemption of the bonds, the issuer pays the bondholders interest calculated on the nominal value of the bond.

A bond program means that the issuer has the right to issue bonds within the maximum amount specified in the program at different times, in different quantities and with different interest rates, i.e. in series. The same conditions apply to bonds of one series, but the conditions of bonds of different series may be different (e.g. different interest rates). Bonds of each series are registered in the Estonian Securities Register with a separate ISIN code.

Income tax is not withheld from Estonian resident investors who have purchased bonds through an investment account and who have submitted a corresponding application to Everaus Kinnisvara at least 10 working days before the interest payment deadline (application form here). In such a case, the interest on Everaus Kinnisvara bonds will be received in full into the investor’s investment account and the income tax liability can be deferred in accordance with the regulations of the Income Tax Act.

Everaus Kinnisvara bonds can be subscribed to at all banks listed on the Nasdaq account manager list (list available here). The subscriber must have a securities account. To subscribe to bonds as a legal entity, in addition to a securities account, a valid LEI code is required.

The amount corresponding to the number of bonds subscribed will be reserved from the investor’s bank account at the time of application submission. The actual settlement will take place on the settlement date, which for the first series of bonds is planned to be 4 June 2025.

Yes, during the subscription period, you can change or cancel your application by contacting your bank.

Everaus Kinnisvara‘s bonds are unsecured. Everaus Kinnisvara redeems the bonds and pays interest from the funds earned from its economic activities. In order for Everaus Kinnisvara to be able to make bond redemption and interest payments, Everaus Kinnisvara has undertaken to maintain an equity to assets ratio of 20%, a debt to expenses ratio of 75% or less, and not to make dividend payments in the amount of more than 30% of the net profit for the financial year. The transparency of Everaus Kinnisvara’s economic activities is ensured through regularly disclosed reports in accordance with First North regulations and legislation.

Everaus Kinnisvara bonds are traded on the First North multilateral trading system organized by Nasdaq Tallinn.

Generally, each subscriber is allocated the number of bonds subscribed to by them.

In the event of oversubscription, the bonds will be allocated on a pro-rata basis or according to other allocation principles to the subscribers who have submitted their subscription orders within offer period in accordance with the following principles:

• Under the same circumstances, all subscribers shall be treated equally, whereas dependent on the number of subscribers and interest towards the offering, the issuer may set minimum and maximum number of the bonds allocated to one subscriber;
• The issuer shall be entitled to use different allocation principles between the groups of retail investors (subscribers) and institutional investors (subscribers). No separate series is reserved for subscribers based on countries where the offering is carried out and the same distribution and allocation principles are applied for subscribers in all countries where the offering takes place;
• The issuer shall be entitled to give preference to the employees and management team members of the issuer or its affiliates;
• The issuer shall be entitled to give preference to the subscribers who have purchased a home from the issuer or its affiliate, provided that respective home purchase has been registered via the issuer’s website before submitting the subscription order and it has been accepted by the issuer;
• The issuer shall be entitled to give preference to the subscribers who have previously provided loan(s) to the issuer or its affiliate;
• The issuer shall be entitled to give preference to the shareholders of the issuer;
• Possible multiple subscription orders submitted by one subscriber shall be merged for the purpose of allocation, and
• Each subscriber entitled to receive the bonds shall be allocated a whole number of bonds and, if necessary, the number of bonds to be allocated shall be rounded down to the closest whole number.

The nominal value of one bond is 1,000 euros, which is also the minimum subscription amount. There is no maximum subscription limit.

The results will be published on 28 May 2025. Your personal allocation will be visible in your securities account after the settlement date (4 June 2025).

Yes, both partially and fully, but only before the end of the subscription period for the relevant series of bonds.

Cancellation will be announced via the First North information system and Everaus Kinnisvara’s website. After the cancellation is announced, all rights and obligations in relation to the cancelled part are deemed to have expired. If the issue is cancelled in full, the bonds will not be issued and all reserved funds will be released. Everaus Kinnsivara is not liable for any loss or expenses that may be incurred by the subscribers in this case.

The interest payment dates are set out in the final terms of each series of bonds. For the first series of bonds, interest is paid quarterly on the following dates:

• 4 September
• 4 December
• 4 March
• 4 June

The first interest payment on the first series of bonds will be made on 4 September 2025.

The term of the firts series of bonds is 3 years and the maturity date is 4 June 2028.

Yes, from the expiry of two years after the issue date of the bonds of a particular series.

The subscription period for Everaus Kinnisvara bonds begins on 14 May, 2025 at 10:00 am and lasts until 27 May, 2025 at 15:30 pm. Since banks may stop accepting subscription orders in the internet bank at an earlier time, we recommend submitting the order no later than 27 May at noon.

Everaus Kinnisvara company description (information document) and the terms and conditions of the bonds will be published through the Nasdaq Tallinn First North information system and the Everaus Kinnisvara website.

In cooperation with Äripäev Investor Toomas, a seminar introducing Everaus Kinnisvara and the bond issue will be held on May 20th, starting at 17:30 pm in Peetri, Pihlaka farm. The seminar will provide an overview of Everaus Kinnisvara’s activities, completed and ongoing projects, future plans, and the bond issue and its goals. In addition to Everaus Kinnisvara founder and CEO Janar Muttik, Redgate Capital AS partner Valeria Kiisk and investor Lev Dolgatsjov, who was awarded the title of Investor of the Year, will take the stage to share their knowledge and experience regarding bonds and real estate investments. The event will be moderated by Juhan Lang. Register for the seminar here.

The seminar will be held in Estonian. In cooperation with Redgate Capital AS, a webinar in English will also be held on May 21st – register for the webinar here.