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TRINITI advised TVH in a 10 MEUR bond issue and aircraft acquisition

TRINITI advised the successful bond issue of 10 million euros by the state-owned OÜ Transpordi Varahaldus and the subsequent acquisition of an additional CRJ900 NextGen aircraft, which was long-term leased to the Estonian national airline Nordica.

TRINITI legal team: Ergo Blumfeldt, Tõnis Tamme, Ain Kalme, Sten Veidebaum and Sandor Elias advised Transpordi Varahaldus OÜ (TVH) in relation to the issuance of bonds and establishment of collateral, preparation of sale and leasing agreement documentation of the aircraft and in related negotiations.

TVH issued bonds in the amount of 10 million euros in December 2018 with an 8-year maturity. The bonds were purchased by Estonian financial institutions AS LHV Varahaldus (manager of pension funds) and AS LHV Pank. TVH used the additional finances for the acquisition of one vintage CRJ900NG, thereby increasing the fleet of the company to seven aircraft of the same type. More information on the details of the transaction is available in the TVH press release (in Estonian).

According to Villu Otsmann, the managing partner of TRINITI law firm, the transaction was an excellent opportunity for TRINITI lawyers to implement their expert knowledge and earlier practical experience in advising aviation matters as well as to contribute to the planned growth of Estonian national aviation.

TRINITI is a Pan-Baltic commercial law firm with lawyers who have more than 20 years of experience in advising aviation matters, including acquisition and financing of aircraft. The law firm has advised TVH in the expansion of its fleet already earlier including the first bond issue of TVH in the amount of 25 million euros in 2017, which then allowed the acquisition of two CRJ900NG aircraft.