SIA “Marijas 2” start a new bond issue with a 10% p.a. interest on May 9th, 2024
Summary
On May 8, 2024, the Bank of Latvia approved the Base Prospectus for the programme for the offerings of secured bonds in the amount of up to 50 000 000 EUR and admission thereof to trading on the alternative market First North Baltic operated by AS Nasdaq Riga. Both institutional and retail investors will be offered to invest in bonds with a maturity of one year and a fixed coupon rate of 10% p.a. payable quarterly. The subscription period will start on May 9th, 2024, and end on May 22nd, 2024.
It is planned to raise up to 42 775 000 EUR with the first tranche, future tranches will be used to finance fit out works and working capital. Proceeds from the first tranche will be mainly directed towards refinancing of existing obligations. Current investors will be given an opportunity to reroll their current bonds into the new issue via the Exchange Offering. More detailed procedure of the bonds exchange and the new subscription is described in the Final terms and the base prospectus. Both documents are attached to this announcement and available on the web page of SIA "Marijas 2".
Financial advisor of the new bond issue is Evernord UAB FMĮ, legal advice is provided by Law firm TGS Baltic zvērinātu advokātu birojs SIA, issuing agent and escrow account agent is Šiaulių bankas AB. ZAB VILGERTS SIA will be acting as collateral agent.
Main terms of the offering
During the public bond offering, SIA “Marijas 2” will offer investors from Latvia, Lithuania, and Estonia to purchase up to 42 775 bonds with a nominal value of EUR 1 000 per bond with maturity of one year and annual fixed coupon rate of 10% payable quarterly. The subscription is open to both professional and retail investors. Current investors will be offered to exchange existing bonds maturing in May 2024. The bonds will be secured with a first rank mortgage on the A-class office building Novira Plaza located on Marijas 2 and Marijas 2A in central Riga and pledge over escrow account to provide investors with an additional level of comfort when making their investment.
Subscription period will start on May 9th, 2024, at 9:00 and finish on May 22nd, 2024, at 15:00. Confirmation and payment deadline will be May 27th, 2024, and settlement will be May 30th, 2024 (28th May 2024 for the bonds subscribed via the Exchange Offering).
About SIA “Marijas 2”
SIA “Marijas 2” was established in December 2020. SIA “Marijas 2” owns a modern A-class office building Novira Plaza in central Riga located at Marijas 2 and Marijas 2A. The building’s architecture was inspired by historical city center and is in-line with modern offices’ design principles. A unique seven-floor building will accommodate 25 000 m2 of safe, convenient as well efficient offices and retail premises, underground floors will accommodate 255 parking spaces and bicycle storages.
Novira Plaza is being developed according to LEED Gold standard with potential to obtain LEED Platinum certificate.
For further information, please contact:
Nikolay Kryzhanovskiy
SIA “Marijas 2” member of the management board
Phone: +372 58 436 663
E-mail: noviraplaza@novira.lv
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