The second series offering has ended. Subscription results here
The volume of the second series of the bond program is up to 3 million euros.
The capital raised by the issue will be used for additional financing of real estate development projects that have reached the construction stage.
Lead manager Redgate Capital AS. Legal advisor Advokaadibüroo TRINITI.
In cooperation with Investor Toomas, a platform created by Äripäev, a seminar introducing Everaus Kinnisvara and its bond issue took place on May 20 at Pihlaka Farm in Peetri. The recording of the seminar provides an overview of Everaus Kinnisvara’s operations, completed and ongoing projects, future plans, as well as the bond issue and its objectives. In addition to Everaus Kinnisvara’s founder and CEO Janar Muttik, CFO Janika Roots, and Supervisory Board member Ranol Kaseväli, the stage also featured Redgate Capital AS partner Valeria Kiisk and investor Lev Dolgatsjov, who holds the title of Investor of the Year. They shared their insights and experiences related to bonds. The event was moderated by Juhan Lang.
The seminar can be watched with English subtitles here. Please note that this is a seminar that took place on spring. An overview of the recent developments can be found in the Information Document (pages 7-9).
Subscription period has ended.
To subscribe for the bonds, the subscriber must have a securities account. To subscribe for the bonds as a legal entity, in addition a valid LEI code must be available.
The required amount of funds must be available in account at the time of submitting the subscription order and will be reserved until the allocation of the bonds.
The bonds can be subscribed for through the active bank links (activate at 10 am) below and through all banks listed on the Nasdaq account manager list (the list is available here).
Please note that the cut-off time for submitting a subscription order on the last day of the subscription period may vary from bank to bank. For more detailed information, please contact your bank.
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 attached). 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 is an ambitious developer of residential and commercial real estate. Starting in 2015 as a developer of private homes, the company has today grown into the developer with the most diverse portfolio, whose development projects include apartment buildings, terraced houses, semi-detached houses, and private homes, as well as office buildings, warehouse and stock-office spaces, and mini-warehouses, in addition to private house plots and guest apartments. While residential real estate projects are intended for sale, we develop commercial real estate as cash-flow projects for leasing purposes to mitigate risks, and the established commercial buildings remain in our ownership.
Everaus Kinnisvara is the only real estate developer in Estonia whose nearly all completed residential developments have received high recognition in home competitions. Due to its pioneering choices, the developer’s projects have more than once been awarded the title of “first of its kind.”
Everaus Kinnisvara stands out from other developers due to its strong focus on energy efficiency, design, and holistically curated environments.
Many market participants concentrate on either residential or commercial real estate, but Everaus Kinnisvara has chosen a more ambitious direction, developing in both sectors. While residential real estate projects are intended for sale, we develop commercial real estate as cash-flow projects for leasing purposes to mitigate risks, and the established commercial buildings remain in our ownership.
Everaus Kinnisvara is also made strong in terms of market risk by the diversity of its development projects within the sector. While many major developers have positioned themselves only as apartment building developers or have excluded the development of private homes, our portfolio includes apartment buildings, terraced houses, semi-detached houses, and private homes, as well as office buildings, warehouse and stock-office spaces, and mini-warehouses, in addition to private house plots and guest apartments.
Our strength also lies in strategic management based on thorough and long-term knowledge and experience, and the capability to manage the entire development cycle—from planning procedures to after-sales service for residential real estate and the management of commercial real estate.
The goal of the second series is to further finance the construction of the next phases of Everaus Kinnisvara’s development projects and to begin construction on new development projects.
Construction has begun on the infrastructure for the next phases of Kindluse Kodu, the houses for the third and final (terraced house) phase of Luige Kodud, and the final two buildings of the Lennuradari storage complex. Preparations are underway to begin construction on the Kangru Kodu terraced houses and apartment buildings located on the border of Tartu that have been added to the portfolio.
The funds raised in the first series have been used as intended, and this support has allowed the construction of the real estate development projects to progress rapidly. The infrastructure for the first phase of Kindluse Kodu (terraced and semi-detached houses) is complete, and the first houses have reached full height (50% of Phase I homes are sold). The houses in the second phase of Luige Kodud (terraced and apartment buildings) have reached the facade and interior construction stage (30% of Phase II homes are sold). The construction of the second phase of the Lennuradari storage complex and the Haabersti mini-storage units is in the final stretch, and the new commercial buildings will be completed by the end of this year, securing a stable cash flow for the developer’s rental portfolio.
The Everaus Kinnisvara bond issue is targeted at institutional and retail investors in Estonia, Latvia, and Lithuania.
Everaus Kinnisvara is launching its bond issue for the first time this year, but we have long-term cooperation experience in capital raising with several private and institutional partners. We are an open company that values its investor community, and our shareholders include 57 small shareholders.
The oversubscription of the spring offering by more than three times confirmed that we are a valued and recognized real estate developer not only by clients and cooperation partners but also that investors trust our development prospects and strategy to develop high-quality and sustainable living and business environments. The second series offering will allow the company to further expand its investor community.
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.
Everaus Kinnisvara bonds can be subscribed for at all banks listed in the Nasdaq account operator list (the list is available here). The subscriber must have a securities account. To subscribe for bonds as a legal entity, a valid LEI code is also required in addition to a securities account.
Please note that the cut-off time for submitting a subscription order on the last day of the subscription period may vary from bank to bank. For more detailed information, please contact your bank.
The amount corresponding to the number of bonds subscribed will be reserved from the investor’s bank account at the time of application. The actual settlement will take place on the settlement date, which for the second series of bonds is planned to be 22 October 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:
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 20 October 2025. Your personal allocation will be visible in your securities account after the settlement date 22 October 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:
The second interest payment on the first series of bonds will be made on 22 January 2026.
The term of the second series of bonds is 3 years and the maturity date is 22 October 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 08 October, 2025 at 10:00 am and lasts until 17 October, 2025 at 15:30 pm.
Please note that the cut-off time for submitting a subscription order on the last day of the subscription period may vary from bank to bank. For more detailed information, please contact your bank.
The 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.
n cooperation with Investor Toomas, a platform created by Äripäev, a seminar introducing Everaus Kinnisvara and its bond issue took place on May 20 at Pihlaka Farm in Peetri. The recording of the seminar provides an overview of Everaus Kinnisvara’s operations, completed and ongoing projects, future plans, as well as the bond issue and its objectives. In addition to Everaus Kinnisvara’s founder and CEO Janar Muttik, CFO Janika Roots, and Supervisory Board member Ranol Kaseväli, the stage also featured Redgate Capital AS partner Valeria Kiisk and investor Lev Dolgatsjov, who holds the title of Investor of the Year. They shared their insights and experiences related to bonds. The event was moderated by Juhan Lang.
The seminar can be watched with English subtitles here. Please note that this is a seminar that took place on May 20. An overview of the interim developments can be found in the Information Document (pages 7-9).
When allocating bonds, Everaus Kinnisvara has the right to give preference to subscribers who have purchased housing from Everaus Kinnisvara or an affiliated company, provided that the respective purchase transaction has been registered in the form on this website before submitting the subscription order and Everaus Kinnisvara has accepted this registration.
Let us know about them by contacting Everaus Kinnisvara CFO.
Janika Roots
This website contains information about the public offering of bonds by Everaus Kinnisvara AS (the Issuer). The public offering is being conducted by the Issuer and the information published on this website is based on information disclosed by the Issuer and the securities offering Information Document. The information contained on this website constitutes advertising within the meaning of Regulation (EU) 2017/1129 of the European Parliament and of the Council of 14 June 2017 (the Prospectus Regulation) and does not constitute an offer to sell or a solicitation of an offer to purchase the bonds of the Issuer. The information published on this website has not been approved by any supervisory authority and does not constitute a prospectus within the meaning of the Prospectus Regulation.
The Issuer will conduct the offering of the bonds on the basis of the information document and the terms and conditions of the bonds published on the date of the announcement of the public offering of the bonds. Before making an investment decision, the investors are advised to independently review the Issuer’s information document and the terms and conditions of the bonds and, if necessary, consult with an expert. Each investor should make an investment decision to invest in the Issuer’s bonds solely on the basis of the information contained or referred to in the information document in order to understand all the risks and benefits associated with the investment.
The Information Document will be available on the Nasdaq Tallinn AS website and the Issuer’s website. The decision to list the Issuer’s securities in the list of bonds tradeable on the First North multilateral trading system organized by NASDAQ Tallinn AS or on any other securities trading venue (within the meaning of the Securities Market Act) does not constitute a recommendation to invest in the Issuer’s bonds.
The information contained in this section of the website is not intended for publication, distribution or transmission, in whole or in part, directly or indirectly, in the United States, Canada, Hong Kong, Japan, Singapore, South Africa or other countries or circumstances where such publication, distribution or transmission would be unlawful, or to persons to whom the distribution or transmission of such information would be illegal or to persons who are subject to financial sanctions imposed by competent authorities. The Issuer’s bonds are offered publicly only in the Republic of Estonia, Latvia and Lithuania and the bonds are not offered or sold in any jurisdiction where such offer, solicitation or sale would be unlawful without an exemption or qualification under the laws of that jurisdiction or to persons who have been subjected to financial sanctions imposed by competent authorities. Persons visiting this website, who are subject to the laws and regulations of any such jurisdiction, must familiarize themselves with and comply with all applicable restrictions or requirements.