COBALT advised Telliskivi TLN OÜ on entering into a €70 million syndicated loan agreement with Swedbank AS and OP Corporate Bank plc Eesti filiaal (branch in Estonia). Telliskivi TLN will use the financing to refinance its existing loan and to renovate the historic industrial complex (M Building) at Telliskivi 60/3 in Tallinn and construct new building volumes.
The M Building is Telliskivi TLN’s largest development project. The approximately 20,000 square-metre multifunctional complex is scheduled for completion in 2028 and will bring new offices, Inbank’s headquarters, an urban spa, international exhibition spaces, as well as cultural, sports and service facilities to Telliskivi.
The construction of the M Building represents the final major stage of Telliskivi TLN’s long-term development plan. Previously, the K Building and Telliskivi Park were completed on the campus, while the historic G and I4 buildings were renovated. Upon completion of the M Building, most of the campus’s daily car traffic will be moved underground, while the amount of public space dedicated to leisure activities at street level will be significantly increased. The entire area will become a people-centred, integrated business, cultural and leisure district.
The above-ground part of the M Building consists of eight interconnected building sections. Approximately half of the development’s leasable space will comprise Class A offices. The remaining space will accommodate a spa, exhibition facilities, sports, culture, entertainment, restaurants, retail and wellness services. A new parking garage with an underground parking level will also be built near the complex for visitors arriving by car.
COBALT advised Telliskivi TLN OÜ in negotiations concerning the syndicated loan agreement and security package, as well as in the preparation and finalisation of all related documentation. The team consisted of Partner Marina Kotkas and Specialist Counsel Georg Kuusik.
Leading experts
