OREANDA-NEWS. July 12, 2011. SORAINEN Estonia advised Elering, the electricity transmission system operator in Estonia, in its successful debut Eurobond issue. The bond, amounting to EUR 225 million, matures in 2018, pays annually a coupon of 4.625% (re-offer yield of 4.829%) and will be listed on the London Stock Exchange. The proceeds will be used for refinancing the existing syndicated loan, for financing of investments and for general corporate purposes, reported the press-centre of SORAINEN.

"For upcoming years the most important investments will be the purchase of EstlLink 1 from its current owners and the construction of EstLink 2 and an emergency reserve power station. We believe this is the most efficient way to attract debt capital and so will benefit the whole society," commented Taavi Veskimagi, the Elering CEO.

SORAINEN was engaged as Estonian legal advisor to Elering. The SORAINEN project team was led by partner Toomas Prangli and senior associate Jane Eespold.