24. Sep 2007 / GILD Bankers raised EUR 16.5 m for real estate project in Azerbaijan
GILD Bankers acted as the lead manager for EUR 16.5 million structured asset-linked note issue by Seaside Residence Baku OU. The proceeds of the issue will finance a land development project in Mardakan – Shuvalan town in the Republic of Azerbaijan, which is managed by Delta Imoti Group, an Estonian real estate company.

Lauri Isotamm, GILD Bankers partner and head of Corporate Finance, comments: “Investors have turned their focus to the booming fast-track economies in Eastern Europe. Considering the impressive economic developments in Azerbaijan and a generally positive outlook for the local real-estate market as well as Delta Imoti Group’s previous experience in the Eastern markets, we believe essential components for success are there.”

GILD Bankers partner Šarūnas Skyrius clarifies the aims of the project: “The concept of the project is to acquire approximately 147 hectares of arable land on the Caspian sea coast about 30 km away from Baku, the capital of Azerbaijan, and raise the value of the land by imposing a detail plan and constructing the necessary infrastructure. Thereafter in 3 to 5 years the plan is to realize the investment. This initiative attracted a lot of interest from Baltic individual investors as well as private banking accounts. A total of 24 investors purchased the notes.”

GILD Bankers is the leading independent Baltic investment bank with offices in Tallinn, Riga, Vilnius, Kiev and Sofia. GILD Bankers Group has around 70 employees.

Since 1999 GILD Corporate Finance team has advised and successfully completed 100 transactions with a combined value exceeding EUR 2.8 billion. In 2007 Corporate Finance team has been