COBALT advised Yook OÜ on the execution of its first secured bond issue in the Baltics. The bond offering closed on 11 May 2026 and trading with the bonds commenced at the Nasdaq Tallinn First North multilateral trading facility on the morning of 18 May 2026.
Simultaneously, the offer was carried out in Estonia, Latvia and Lithuania on the basis of a pan-Baltic information Document. The offering proved highly successful and was nearly 1.5 times oversubscribed – Yook OÜ decided to increase the offering size and in total raised about EUR 4.5 million. Particularly encouraging was the strong participation of investors from Latvia and Lithuania, who together accounted for nearly 30% of all subscriptions.
This is a strong indication that the possibility of preparing a single information document and offering securities across all three Baltic states is being well received not only by issuers but also by investors, thereby fulfilling its purpose of stimulating the capital markets in our region.
While the current limit for raising capital on the basis of an information document is EUR 8 million, this threshold will soon increase to EUR 12 million per year. As a result, larger-scale public offerings based on an information document will soon also become possible.
COBALT advised Yook OÜ on all legal aspects of the bond offering, ensuring compliance of the information document with applicable requirements and preparing and negotiating the documentation necessary for establishing the security package.
The bonds constitute secured obligations of Yook OÜ, secured by a pledge over the shares of YOOK Production AS held by Yook OÜ, representing 100% of the share capital of YOOK Production AS. The pledge also extends to all future shares issued to Yook OÜ in YOOK Production AS (except for shares issued up to a maximum of 10% in connection with the exercise of option agreements of YOOK Production AS).
The security is held on behalf of and for the benefit of the bondholders by the collateral agent, TRINITI Collateral Agent XVII OÜ.
Our team consisted of Partner Marina Kotkas and Specialist Counsel Georg Kuusik. The financial adviser to the offering was Redgate Capital and the marketing and communications adviser was Agenda PR.
Photo: YOOK Estonia
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