Estonia’s state-owned Transpordi Varahaldus (TVH) is to issue €25 million ($28.1 million) of bonds to finance the acquisition of two 2011-vintage Bombardier CRJ900s.
The bonds will be bought in equal shares by LHV pension funds and LHV Bank.
National airline Nordica will lease the CRJ900s. The first aircraft will arrive in Tallinn, Estonia in June, while the second unit is expected in July.
Both aircraft will start operations in early August.
LHV pension funds subscribed for half of the €25M issue of debt instrument and LHV Bank subscribed for the rest with a loan interest of 2.85% per year with an 8-year term. Four CRJ900 type planes belonging to TVH serve as the loan guarantee.
