In response to investor expectations and market conditions, AS PN Project, a real estate development company established by Lords LB Special Fund V, has decided to increase the interest rate for its publicly offered bonds from 9% to 10%, effective from 28 May 2025.
The decision was made after evaluating the current state of the Baltic debt markets, analyzing other ongoing public security offerings, and collecting feedback from selected institutional investors.
The interest rate change applies to Tranche No. 1 (EUR 30 million) of bonds due 4 June 2027, issued under the company's EUR 75 million bond programme. The updated Final Terms dated 28 May 2025 replace the original version from 9 May 2025. All other terms remain unchanged.
The change does not affect already placed subscription orders – orders submitted at the 9% rate will be automatically transferred to the 10% orderbook.
About Preses Nama Kvartāls bond offering
AS PN Project, a subsidiary of Lords LB Special Fund V, launched a €30 million bond issue to finance the continued development of the Preses Nama Kvartāls project in Riga. The bonds offer a 10% annual yield with semi-annual coupon payments and a maturity date of June 4, 2027. The subscription period runs from May 12 to May 30, 2025. The funds raised will support the construction of the A-class office building, working capital, and refinancing of existing bonds.
For more information about Preses Nama Kvartāls bond offering, please visit invest.presesnams.lv
About Preses Nama Kvartāls
The development of Preses Nama Kvartāls is carried out in several construction phases. The first phase includes A-class office building, with work on the phase B — a multifunctional center — set to begin upon its completion. The next phases will feature a ten-story office building with a modern educational institution. Renovation works of the existing "Preses nams" building are also planned. The project developer is "Lords LB Asset Management", whose total assets under management reached 1,331 billion euros by the end of December 2024.
For additional information, please contact:
Rasa Bartusevičienė
Investor relations manager
+370 616 34096
rasa.bartuseviciene@lordslb.lt
Povilas Urbonavičius
Fund manager
povilas.urbonavicius@lordslb.lt
+370 687 96519
Igors Daņilovs
Financial director
igors.danilovs@lordslb.lv
+371 26765354