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<\/p>\nAs a result of successful issue of bonds of Transpordi Varahaldus (TVH), TVH is now to acquire two CRJ900 NextGen type aircraft which it will rent out long-term to Estonia\u2019s national airline AS Nordic Aviation Group (Nordica).<\/p>\n
Half of the 25 million euro bond issue was subscribed for by LHV pension funds and the rest by AS LHV Pank subject to a loan interest of 2.85 per cent a year and a term of 8 years. The loan is guaranteed with TVH\u2019s four CRJ900 aircraft of the same type.<\/p>\n
Andres Viisemann, Manager of LHV Pension Funds, said at a press conference that he considers this investment to be very safe and added that TVH might indeed be a new business sventure, yet constitutes a company with an exceedingly strong capital structure.<\/p>\n
<\/p>\n
A TVH aircraft in Nordica colors at Tallinn Airport. Picture: Mihkel Maripuu, Postimees<\/em><\/p>\n As a result of the transaction, TVH aircraft fleet shall include six CRJ900 NextGen type aircraft. As agreed, the first of the two additional aircraft is set to arrive in Tallinn in June and the second in July. Both aircraft will start operation in the beginning of August at the latest. The aircraft were manufactured in 2011 at the Bombardier factory in Canada and have been well maintained.<\/p>\n In an interview with the daily Postimees<\/em>, Kadri Simson, Estonian Minister of Economic Affairs, noted that the decision by a private bank to finance Nordica\u2019s investment first and foremost demonstrates the bank\u2019s trust in the Company\u2019s business plan.<\/p>\n \u201cToday Nordica is doing well; the finding of a strategic partner and step-by-step expansion constitute a logical continuation of the Company\u2019s development. Competition in aviation is really tight and Nordica must make an effort every day to please its customers. We must certainly remember to praise LHV whose investment demonstrates the belief of an Estonian bank in an Estonian enterprise,\u201d the Minister explained.<\/p>\n The relevant transaction constitutes the largest commercial investment in Estonian aviation. The main financing in the aviation sector has so far come from owners or partner companies and the government.<\/p>\n","protected":false},"excerpt":{"rendered":" As a result of successful issue of bonds of Transpordi Varahaldus (TVH), TVH is now to acquire two CRJ900 NextGen type aircraft which it will rent out long-term to Estonia\u2019s national airline AS Nordic Aviation Group (Nordica). Half of the…<\/p>\n","protected":false},"author":1,"featured_media":1648,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[22],"tags":[],"class_list":["post-1907","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"\n