COBALT advised AS PRFoods, a fish farming and production company listed on Tallinn Stock Exchange, on the private placement of secured notes with the aggregate nominal value of approximately EUR 9.1 million. Furthermore, COBALT is continuing to advise AS PRFoods in relation to the contemplated public offering for the second tranche of the notes, and upon the listing of the notes on Tallinn Stock Exchange.
The subscription period for the private placement of the notes of AS PRFoods was a great success and investors’ interest in the notes exceeded the volume of the private placement by approximately 109%. Due to that, AS PRFoods decided to increase the volume of the private placement to approximately EUR 9.1 million and is also considering increasing the maximum aggregate nominal value of the notes to be issued during the whole issue from EUR 10 million to EUR 11 million.
COBALT advised AS PRFoods in all aspects of the transaction, starting from the structuring phase, up to the drafting of the required documentation and execution of the private placement. COBALT will further continue to advise AS PRFoods in relation to the post-completion steps of the private placement (including the establishment of the collateral), as well as in relation to the expected public offering and listing of the notes.