Funded
  • Deadline
    07.12.2018
  • Start of investment period
    17.01.2019
  • Start time
    08.11.2018 10:00
  • Asset class
    Investment
  • Investment type
    Other
  • Investment end date
    06.12.2022
  • Remaining term
    36 months
  • Expected rate of return
    15.01%
  • Expected cash yield
    %
  • No of investors
    649
  • Goal
    €500 000

Executive summary

This investment offers Crowdestate investors an opportunity to refinance a part of shareholders equity of an operating natural gas cogeneration plant located in Olaine, Latvia.

Total interest rate per base scenario is 18% per annum: 5% per annum interest paid out quarterly, 13% per annum interest and investment principal at the end of the investment period. 

The loan term is up to 48 months but according to the base scenario, the Sponsor will make an early repayment of the loan after 36 months, refinancing it with a debt from the current senior lender - Luminor Bank. In the case of the base scenario, the early repayment will take place after 36 months, and the expected return on invested capital (IRR) will be 15.01% per annum.

The loan is secured by a 2nd rank pledge on 100% shares of SIA Olaines Enerģija, 100% shares and assets of Target, and by a personal guarantee by Janis Timma.

Crowdestate

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