{"id":17473,"date":"2021-11-04T09:47:46","date_gmt":"2021-11-04T09:47:46","guid":{"rendered":"http:\/\/triniti.eu\/insights\/lhv-refinanced-the-bonds-of-the-largest-estonian-aviation-assetco\/"},"modified":"2026-09-16T12:25:09","modified_gmt":"2026-09-16T09:25:09","slug":"lhv-refinanced-the-bonds-of-the-largest-estonian-aviation-assetco","status":"publish","type":"insights","link":"https:\/\/triniti.eu\/lv\/jaunumi\/lhv-refinanced-the-bonds-of-the-largest-estonian-aviation-assetco\/","title":{"rendered":"LHV refinanced the bonds of the largest Estonian aviation assetco"},"content":{"rendered":"<p>Seven Bombardier CRJ900-type aircraft owned by Transpordi Varahaldus O\u00dc (TVH) are now fully financed by LHV Bank, while Estonia\u2019s national airline Nordica continues as their lessee. Government-owned TVH refinanced its previously issued bonds with a 23 million euro loan from an Estonian LHV Bank. TRINITI attorneys <span style=\"color: #008cc8;\"><a style=\"color: #008cc8;\" href=\"\/our-team\/ergo-blumfeldt\/\" target=\"_blank\" rel=\"noopener\">Ergo Blumfeldt<\/a><\/span>, <span style=\"color: #008cc8;\"><a style=\"color: #008cc8;\" href=\"\/our-team\/ain-kalme\/\" target=\"_blank\" rel=\"noopener\">Ain Kalme<\/a><\/span>, <span style=\"color: #008cc8;\"><a style=\"color: #008cc8;\" href=\"\/our-team\/tonis-tamme\/\" target=\"_blank\" rel=\"noopener\">T\u00f5nis Tamme<\/a> <\/span>ja <span style=\"color: #008cc8;\"><a style=\"color: #008cc8;\" href=\"\/our-team\/sten-veidebaum\/\" target=\"_blank\" rel=\"noopener\">Sten Veidebaum<\/a><\/span> were advising TVH in drafting the legal documentation of the transaction and related negotiations, necessary changes in the civil aircraft registry, amendment of the existing aircraft lease agreements as well as in other legal documentation.<!--more--><\/p>\n<p>In 2017 and 2018, TVH issued bonds for a total of 35 million euros which were purchased in equal parts by LHV Pension Funds and LHV Pank. TVH used the financing to purchase additional CRJ900-type aircraft and lease them to Nordic Aviation Group AS (Nordica). The outstanding amount of the bonds was now refinanced with a bank loan obtained from LHV Bank.<\/p>\n<p>Indrek Nuume, Head of Business Banking at LHV Pank, said that the local bank and the local aircraft owner were a perfect match. \u201cOur cooperation with TVH has been long-standing, successful and reliable. We\u2019re glad to be involved in their investment plans. As LHV Pension Funds are always on a lookout for new investment opportunities with a higher rate of return, we agreed on new suitable bank financing terms with TVH. We can see that the sector is recovering well and wish all the success to Estonian aviation,\u201d Nuume added.<\/p>\n<p>According to TVH the two past years have been exceedingly complicated for aviation but due to reliable and long-standing cooperation with the lessee and the financiers alike, the assetco has weathered the crisis well, managing to keep its current commercial activities profitable.<\/p>\n","protected":false},"featured_media":7552,"template":"","meta":{"_acf_changed":false,"footnotes":""},"person_countries":[306],"people_industries":[],"experience_practice_area":[],"insight_category":[435],"class_list":["post-17473","insights","type-insights","status-publish","has-post-thumbnail","hentry","person_countries-igaunija","insight_category-jaunumi"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>LHV refinanced the bonds of the largest Estonian aviation assetco - TRINITI<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/triniti.eu\/lv\/jaunumi\/lhv-refinanced-the-bonds-of-the-largest-estonian-aviation-assetco\/\" \/>\n<meta property=\"og:locale\" content=\"lv_LV\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"LHV refinanced the bonds of the largest Estonian aviation assetco - TRINITI\" \/>\n<meta property=\"og:description\" content=\"Seven Bombardier CRJ900-type aircraft owned by Transpordi Varahaldus O\u00dc (TVH) are now fully financed by LHV Bank, while Estonia\u2019s national airline Nordica continues as their lessee. Government-owned TVH refinanced its previously issued bonds with a 23 million euro loan from an Estonian LHV Bank. TRINITI attorneys Ergo Blumfeldt, Ain Kalme, T\u00f5nis Tamme ja Sten Veidebaum [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/triniti.eu\/lv\/jaunumi\/lhv-refinanced-the-bonds-of-the-largest-estonian-aviation-assetco\/\" \/>\n<meta property=\"og:site_name\" content=\"TRINITI\" \/>\n<meta property=\"article:modified_time\" content=\"2026-09-16T09:25:09+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/triniti.eu\/wp-content\/uploads\/2021\/12\/uncategorized.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"2000\" \/>\n\t<meta property=\"og:image:height\" content=\"1333\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"1 min\u016b\u0161u\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/triniti.eu\\\/lv\\\/jaunumi\\\/lhv-refinanced-the-bonds-of-the-largest-estonian-aviation-assetco\\\/\",\"url\":\"https:\\\/\\\/triniti.eu\\\/lv\\\/jaunumi\\\/lhv-refinanced-the-bonds-of-the-largest-estonian-aviation-assetco\\\/\",\"name\":\"LHV refinanced the bonds of the largest Estonian aviation assetco - TRINITI\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/triniti.eu\\\/lv\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/triniti.eu\\\/lv\\\/jaunumi\\\/lhv-refinanced-the-bonds-of-the-largest-estonian-aviation-assetco\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/triniti.eu\\\/lv\\\/jaunumi\\\/lhv-refinanced-the-bonds-of-the-largest-estonian-aviation-assetco\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/triniti.eu\\\/wp-content\\\/uploads\\\/2021\\\/12\\\/uncategorized.jpg\",\"datePublished\":\"2021-11-04T09:47:46+00:00\",\"dateModified\":\"2026-09-16T09:25:09+00:00\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/triniti.eu\\\/lv\\\/jaunumi\\\/lhv-refinanced-the-bonds-of-the-largest-estonian-aviation-assetco\\\/#breadcrumb\"},\"inLanguage\":\"lv-LV\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/triniti.eu\\\/lv\\\/jaunumi\\\/lhv-refinanced-the-bonds-of-the-largest-estonian-aviation-assetco\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"lv-LV\",\"@id\":\"https:\\\/\\\/triniti.eu\\\/lv\\\/jaunumi\\\/lhv-refinanced-the-bonds-of-the-largest-estonian-aviation-assetco\\\/#primaryimage\",\"url\":\"https:\\\/\\\/triniti.eu\\\/wp-content\\\/uploads\\\/2021\\\/12\\\/uncategorized.jpg\",\"contentUrl\":\"https:\\\/\\\/triniti.eu\\\/wp-content\\\/uploads\\\/2021\\\/12\\\/uncategorized.jpg\",\"width\":2000,\"height\":1333},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/triniti.eu\\\/lv\\\/jaunumi\\\/lhv-refinanced-the-bonds-of-the-largest-estonian-aviation-assetco\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/triniti.eu\\\/lv\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"LHV refinanced the bonds of the largest Estonian aviation assetco\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/triniti.eu\\\/lv\\\/#website\",\"url\":\"https:\\\/\\\/triniti.eu\\\/lv\\\/\",\"name\":\"TRINITI\",\"description\":\"\",\"publisher\":{\"@id\":\"https:\\\/\\\/triniti.eu\\\/lv\\\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/triniti.eu\\\/lv\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"lv-LV\"},{\"@type\":\"Organization\",\"@id\":\"https:\\\/\\\/triniti.eu\\\/lv\\\/#organization\",\"name\":\"TRINITI\",\"url\":\"https:\\\/\\\/triniti.eu\\\/lv\\\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"lv-LV\",\"@id\":\"https:\\\/\\\/triniti.eu\\\/lv\\\/#\\\/schema\\\/logo\\\/image\\\/\",\"url\":\"https:\\\/\\\/triniti.eu\\\/wp-content\\\/uploads\\\/2021\\\/12\\\/triniti-logo-en.svg\",\"contentUrl\":\"https:\\\/\\\/triniti.eu\\\/wp-content\\\/uploads\\\/2021\\\/12\\\/triniti-logo-en.svg\",\"width\":400,\"height\":117,\"caption\":\"TRINITI\"},\"image\":{\"@id\":\"https:\\\/\\\/triniti.eu\\\/lv\\\/#\\\/schema\\\/logo\\\/image\\\/\"}}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"LHV refinanced the bonds of the largest Estonian aviation assetco - TRINITI","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/triniti.eu\/lv\/jaunumi\/lhv-refinanced-the-bonds-of-the-largest-estonian-aviation-assetco\/","og_locale":"lv_LV","og_type":"article","og_title":"LHV refinanced the bonds of the largest Estonian aviation assetco - TRINITI","og_description":"Seven Bombardier CRJ900-type aircraft owned by Transpordi Varahaldus O\u00dc (TVH) are now fully financed by LHV Bank, while Estonia\u2019s national airline Nordica continues as their lessee. Government-owned TVH refinanced its previously issued bonds with a 23 million euro loan from an Estonian LHV Bank. TRINITI attorneys Ergo Blumfeldt, Ain Kalme, T\u00f5nis Tamme ja Sten Veidebaum [&hellip;]","og_url":"https:\/\/triniti.eu\/lv\/jaunumi\/lhv-refinanced-the-bonds-of-the-largest-estonian-aviation-assetco\/","og_site_name":"TRINITI","article_modified_time":"2026-09-16T09:25:09+00:00","og_image":[{"width":2000,"height":1333,"url":"https:\/\/triniti.eu\/wp-content\/uploads\/2021\/12\/uncategorized.jpg","type":"image\/jpeg"}],"twitter_card":"summary_large_image","twitter_misc":{"Est. reading time":"1 min\u016b\u0161u"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/triniti.eu\/lv\/jaunumi\/lhv-refinanced-the-bonds-of-the-largest-estonian-aviation-assetco\/","url":"https:\/\/triniti.eu\/lv\/jaunumi\/lhv-refinanced-the-bonds-of-the-largest-estonian-aviation-assetco\/","name":"LHV refinanced the bonds of the largest Estonian aviation assetco - TRINITI","isPartOf":{"@id":"https:\/\/triniti.eu\/lv\/#website"},"primaryImageOfPage":{"@id":"https:\/\/triniti.eu\/lv\/jaunumi\/lhv-refinanced-the-bonds-of-the-largest-estonian-aviation-assetco\/#primaryimage"},"image":{"@id":"https:\/\/triniti.eu\/lv\/jaunumi\/lhv-refinanced-the-bonds-of-the-largest-estonian-aviation-assetco\/#primaryimage"},"thumbnailUrl":"https:\/\/triniti.eu\/wp-content\/uploads\/2021\/12\/uncategorized.jpg","datePublished":"2021-11-04T09:47:46+00:00","dateModified":"2026-09-16T09:25:09+00:00","breadcrumb":{"@id":"https:\/\/triniti.eu\/lv\/jaunumi\/lhv-refinanced-the-bonds-of-the-largest-estonian-aviation-assetco\/#breadcrumb"},"inLanguage":"lv-LV","potentialAction":[{"@type":"ReadAction","target":["https:\/\/triniti.eu\/lv\/jaunumi\/lhv-refinanced-the-bonds-of-the-largest-estonian-aviation-assetco\/"]}]},{"@type":"ImageObject","inLanguage":"lv-LV","@id":"https:\/\/triniti.eu\/lv\/jaunumi\/lhv-refinanced-the-bonds-of-the-largest-estonian-aviation-assetco\/#primaryimage","url":"https:\/\/triniti.eu\/wp-content\/uploads\/2021\/12\/uncategorized.jpg","contentUrl":"https:\/\/triniti.eu\/wp-content\/uploads\/2021\/12\/uncategorized.jpg","width":2000,"height":1333},{"@type":"BreadcrumbList","@id":"https:\/\/triniti.eu\/lv\/jaunumi\/lhv-refinanced-the-bonds-of-the-largest-estonian-aviation-assetco\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/triniti.eu\/lv\/"},{"@type":"ListItem","position":2,"name":"LHV refinanced the bonds of the largest Estonian aviation assetco"}]},{"@type":"WebSite","@id":"https:\/\/triniti.eu\/lv\/#website","url":"https:\/\/triniti.eu\/lv\/","name":"TRINITI","description":"","publisher":{"@id":"https:\/\/triniti.eu\/lv\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/triniti.eu\/lv\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"lv-LV"},{"@type":"Organization","@id":"https:\/\/triniti.eu\/lv\/#organization","name":"TRINITI","url":"https:\/\/triniti.eu\/lv\/","logo":{"@type":"ImageObject","inLanguage":"lv-LV","@id":"https:\/\/triniti.eu\/lv\/#\/schema\/logo\/image\/","url":"https:\/\/triniti.eu\/wp-content\/uploads\/2021\/12\/triniti-logo-en.svg","contentUrl":"https:\/\/triniti.eu\/wp-content\/uploads\/2021\/12\/triniti-logo-en.svg","width":400,"height":117,"caption":"TRINITI"},"image":{"@id":"https:\/\/triniti.eu\/lv\/#\/schema\/logo\/image\/"}}]}},"_links":{"self":[{"href":"https:\/\/triniti.eu\/lv\/wp-json\/wp\/v2\/insights\/17473","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/triniti.eu\/lv\/wp-json\/wp\/v2\/insights"}],"about":[{"href":"https:\/\/triniti.eu\/lv\/wp-json\/wp\/v2\/types\/insights"}],"version-history":[{"count":0,"href":"https:\/\/triniti.eu\/lv\/wp-json\/wp\/v2\/insights\/17473\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/triniti.eu\/lv\/wp-json\/wp\/v2\/media\/7552"}],"wp:attachment":[{"href":"https:\/\/triniti.eu\/lv\/wp-json\/wp\/v2\/media?parent=17473"}],"wp:term":[{"taxonomy":"person_countries","embeddable":true,"href":"https:\/\/triniti.eu\/lv\/wp-json\/wp\/v2\/person_countries?post=17473"},{"taxonomy":"people_industries","embeddable":true,"href":"https:\/\/triniti.eu\/lv\/wp-json\/wp\/v2\/people_industries?post=17473"},{"taxonomy":"experience_practice_area","embeddable":true,"href":"https:\/\/triniti.eu\/lv\/wp-json\/wp\/v2\/experience_practice_area?post=17473"},{"taxonomy":"insight_category","embeddable":true,"href":"https:\/\/triniti.eu\/lv\/wp-json\/wp\/v2\/insight_category?post=17473"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}