Tallinn/Riga/Vilnius, Nasdaq Baltic, April 29, 2015 – Nasdaq (Nasdaq: NDAQ) announces that the bonds of OÜ Finora Capital, an Estonian financing company, will be the first bonds admitted to trading on the First North Bond Market. The notes will be admitted on First North market by Nasdaq Tallinn, and will commence trading on May 4, 2015.
„Finora Capital is a great example of a young, ambitious smaller company that is taking advantage of the benefits that being on the public market provides. We are delighted to welcome them to the First North Bond Market which we have just introduced in the Baltics to diversify financing opportunities for smaller companies,” said Rauno Klettenberg, Head of Nasdaq Tallinn.
The first tranche of bonds admitted to trading is €660,000. The aim of the company is to size up the total issue up to 5 million euros in the future. The proceeds will be used to finance expansion of the company’s loan portfolio in Estonia. The term is 3 years, maturing on March 15, 2018. The bonds are secured against pledges on a range of company assets and carry an annual coupon of 9.75 per cent paid quarterly.
„Financing companies with short operating track-records do not have a lot of opportunities to quickly increase their credibility. Getting the approval from Nasdaq, a leading international exchange operator, to admit our securities to trading on First North is one of those ways,“ said Andrus Alber, CEO of Finora Capital. „We want to be a pioneer in operating transparently in the consumer credit sector in Estonia and hope that it will be valued by our cooperation partners and future clients and investors.“
About OÜ Finora Capital OÜ Finora Capital is an Estonian capital based company that was launched in July 2014 when the company started with offering one product - mortgage backed loans - to its customers in Estonia. Its next products, hire-purchase for private customers and factoring for SMEs were introduced in the end of 2014 and in the beginning of 2015 respectively.
About First North First North is regulated as a multilateral trading facility (MTF), operated by the different exchanges at Nasdaq. It does not have the legal status as a regulated market in the EU. Companies at First North are subject to the rules of First North and not the legal requirements for regulated market. The risk in such an investment may be higher than on the regulated market. About Nasdaq Nasdaq (Nasdaq: NDAQ) is a leading provider of trading, clearing, exchange technology, listing, information and public company services across six continents. Through its diverse portfolio of solutions, Nasdaq enables customers to plan, optimize and execute their business vision with confidence, using proven technologies that provide transparency and insight for navigating today's global capital markets. As the creator of the world's first electronic stock market, its technology powers more than 70 marketplaces in 50 countries, and 1 in 10 of the world's securities transactions. Nasdaq is home to more than 3,500 listed companies with a market value of approximately $9.5 trillion and more than 10,000 corporate clients. To learn more, visit: nasdaq.com/ambition or business.nasdaq.com . Nasdaq Copenhagen, Nasdaq Helsinki, Nasdaq Iceland, Nasdaq Riga, Nasdaq Stockholm, Nasdaq Tallinn, Nasdaq Vilnius, Nasdaq Clearing and Nasdaq Broker Services are respectively brand names for the regulated markets of Nasdaq OMX Copenhagen A/S, Nasdaq OMX Helsinki Ltd., Nasdaq OMX Iceland hf., Nasdaq OMX Riga, AS, Nasdaq OMX Stockholm AB, Nasdaq OMX Tallinn AS, AB Nasdaq OMX Vilnius, Nasdaq OMX Clearing AB, Nasdaq OMX Broker Services AB. Nasdaq Nordic represents the common offering by Nasdaq Copenhagen, Nasdaq Helsinki, Nasdaq Iceland and Nasdaq Stockholm. Nasdaq Baltic represents the common offering by Nasdaq Tallinn, Nasdaq Riga and Nasdaq Vilnius. Read more: www.nasdaqbaltic.com . Cautionary Note Regarding Forward-Looking Statements Information set forth in this communication contains forward-looking statements that involve a number of risks and uncertainties. NASDAQ OMX cautions readers that any forward-looking information is not a guarantee of future performance and that actual results could differ materially from those contained in the forward-looking information. Such forward-looking statements include, but are not limited to, statements about our capital return initiatives. Forward-looking statements involve a number of risks, uncertainties or other factors beyond NASDAQ OMX’s control. These factors include, but are not limited to, NASDAQ OMX’s ability to implement its strategic initiatives, economic, political and market conditions and fluctuations, government and industry regulation, interest rate risk, U.S. and global competition, and other factors detailed in NASDAQ OMX’s filings with the U.S. Securities and Exchange Commission, including its annual reports on Form 10-K and quarterly reports on Form 10-Q which are available on NASDAQ OMX’s website at http://www.nasdaqomx.com and the SEC’s website at www.sec.gov . NASDAQ OMX undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise.
Media Relations Contact: Ott Raidla +372 640 8862 ott.raidla@nasdaq.com
