The European Bank for Reconstruction and Development (EBRD) has invested €16m in a €100m senior preferred bond issuance by LHV Group to support green projects in Estonia.
LHV Group is the largest domestic financial services company in Estonia, providing banking, asset management and insurance services.
EBRD said the investment builds on its strong commitment to the development of capital markets in the Baltic states.
The investment also seeks to increase green financing in Estonia, enabling LHV Group to support new green projects in the coming years, in line with the EBRD’s strategy, the bank said.
EBRD director for EU banks and structured finance in the financial institutions group Melis Ekmen Tabojer said: “We are very happy to support a digital domestic financial-services group with its inaugural senior preferred bond issuance, which will support the transition to a green economy in Estonia.”
LHV Group chief executive Madis Toomsalu said: “We are very happy to see the EBRD among the investors who are helping us deliver accessible financing to the Estonian economy.
“LHV is a fast-growing financial group supporting Estonian small and medium-sized enterprises and retail customers in thinking big and fulfilling their plans for a better future.”