Baltic Horizon eyes €50 million sustainability-linked bond program

By Marisa Wong

Los Angeles, Nov. 21 – Baltic Horizon Fund is planning a sustainability-linked bond program via Northern Horizon Capital AS. The bonds will total up to €50 million and are to be issued in one or several series over the next 12 months, according to a press release.

The offering of the bonds is intended to be directed to institutional investors in selected European countries as well as to retail investors in Estonia, Latvia and Lithuania.

The first series is expected to be completed at the end of 2022 or during the first quarter of 2023.

Luminor Bank AS Lithuanian branch has been appointed to act as a lead manager for the planned offering.

Proceeds will mainly be used to refinance the fund’s existing debt, i.e., for the redemption of its existing unsecured bonds.

The company expects to list the bonds on the Nasdaq Tallinn stock exchange.

Registered in Estonia, Baltic Horizon Fund is a closed-end real estate fund managed by Northern Horizon.

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