Volta SKAI Redeems €17 Million in Bonds Early

Volta SKAI OÜ, a subsidiary of Estonian property developer Endover, will early-redeem on 2 July 2026 the bonds issued to finance the construction of Tower A, after the developer decided to proceed with the simultaneous construction of both towers due to stronger-than-forecast demand. The company will pay a 1% premium for the early redemption of the bonds.

Volta SKAI OÜ is exercising its right, as provided in the bond terms, to early-redeem all outstanding bonds (ISIN: EE0000002475, ticker VOLTA100027FB) with a total nominal value of €17,000,000. The redemption payment per bond is €1,010 (101% of face value), plus accrued interest from the last interest payment date up to the redemption date. The record date for bondholders is 1 July 2026; the last trading day on the First North market is 26 June 2026. 

Endover’s CFO Kadri Koplimäe explained that the redemption is necessary because the existing bond programme was tied to the financing of Tower A and did not allow the company to raise the financing needed for Tower B. “As buyer interest has been stronger than expected, we decided to build both towers simultaneously, as this is significantly more efficient in terms of construction logistics and costs. Completing both towers at the same time will also bring a coherent, unified environment to the Volta quarter more quickly. The redemption of the bonds will be funded through a bank loan and proceeds from the sale of apartments in Tower B,” said Koplimäe. 

The CFO added that investors will receive their full investment, including accrued interest and the 1% early redemption premium, in their accounts on 2 July 2026. 

“Volta SKAI OÜ and Endover thank all investors who have contributed to building a new landmark in North Tallinn. We hope that three series of successfully issued and redeemed bonds have delivered attractive returns for investors. Endover’s projects continue and new opportunities will open up for investors to participate in the financing of future developments,” said Kadri Koplimäe. 

“I would like to thank all investors who participated in the Volta SKAI bond issues. The project has made strong progress, with major construction milestones now clearly visible at Volta Quarter and from a distance. I am pleased that interest in the new premium Volta SKAI apartments with outstanding views is strong and that the bond programme will be refinanced,” said Silver Kalmus, Head of Bonds at LHV Bank. 

Construction and sales for the Volta SKAI project are progressing well. Tower A construction, which began in November 2025, is advancing at a good pace, with the first apartments to be handed over to owners in Q4 2026. Third-floor intermediate ceiling works are currently under way, and installation works for the fourth floor will begin in early June, after which the building’s volume will become increasingly visible in the cityscape. Sales results are also strong: over 20% of Tower A’s total floor area has already been reserved or sold, which is a notable result given the project’s construction phase and the overall market conditions. May has shown growth in market activity and has exceeded previous sales forecasts. 

About Volta SKAI

Volta SKAI OÜ is a subsidiary of Endover, developing a high-rise complex with two 12-storey towers in the Volta quarter of North Tallinn, with a total floor area of 18,600 m2. The towers will comprise homes ranging from 36 to 196 m2, offering sweeping sea and city views, with prices starting from €249,900. Construction began in November 2025, the first homes will be ready in Q4 2026, and the final completion of the building is planned for Q1 2027. The architecture is by ARS Projekt.