Skala Holding OÜ, operating under brand name Skala Capital, has successfully completed its debut bond issue in amount of EUR 18 million, with the offering closing on 31 August 2026. Signet Bank (Latvia) acted as the arranger of the bond issue.
Under the offering, the company placed bonds with a total nominal value of up to EUR 18 million among professional private and institutional investors in the Baltics. The securities mature on 7 September 2029. Minimum investment size was EUR 100’000.
The total demand exceeded issuance target of EUR 18 million, demonstrating strong interest from Baltic investors. More than 50 private and institutional investors participated in the placement. Private investors generated approximately 60% of total demand, while institutional investors accounted for the remaining 40%.
“The strong investor response reflects market confidence in Skala’s business model and its high-quality, diversified commercial real estate portfolio across Estonia and Latvia. The broad participation from both private and institutional investors further demonstrates that Skala’s strategy and investment proposition remain well aligned with market expectations,” said Vitali Kõllomets, MRICS, Member of the Management Board at Skala Holding OÜ.
Edmunds Antufjevs, Head of Investment Banking at Signet Bank, added: “The successful completion of the transaction marks an important milestone for Skala and represents one of the largest domestic bond placements in the Baltic real estate market in recent years. While real estate issuers in the Baltic bond market are predominantly property developers, Skala’s offering provided investors with exposure to a lower-risk segment of cash-flow generating commercial real estate, which was highly valued by investors.”
Subject to the applicable procedures, trading on Nasdaq Tallinn First North is expected to begin on or about 10 September 2026.
Signet Bank acted as the arranger of the bond offering, while Ellex Legal served as legal counsel.
Under the offering, the company placed bonds with a total nominal value of up to EUR 18 million among professional private and institutional investors in the Baltics. The securities mature on 7 September 2029. Minimum investment size was EUR 100’000.
The total demand exceeded issuance target of EUR 18 million, demonstrating strong interest from Baltic investors. More than 50 private and institutional investors participated in the placement. Private investors generated approximately 60% of total demand, while institutional investors accounted for the remaining 40%.
“The strong investor response reflects market confidence in Skala’s business model and its high-quality, diversified commercial real estate portfolio across Estonia and Latvia. The broad participation from both private and institutional investors further demonstrates that Skala’s strategy and investment proposition remain well aligned with market expectations,” said Vitali Kõllomets, MRICS, Member of the Management Board at Skala Holding OÜ.
Edmunds Antufjevs, Head of Investment Banking at Signet Bank, added: “The successful completion of the transaction marks an important milestone for Skala and represents one of the largest domestic bond placements in the Baltic real estate market in recent years. While real estate issuers in the Baltic bond market are predominantly property developers, Skala’s offering provided investors with exposure to a lower-risk segment of cash-flow generating commercial real estate, which was highly valued by investors.”
Subject to the applicable procedures, trading on Nasdaq Tallinn First North is expected to begin on or about 10 September 2026.
Signet Bank acted as the arranger of the bond offering, while Ellex Legal served as legal counsel.