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AS PN Project, the developer of Preses Nama Kvartāls, has successfully completed the third tranche of its bond program, raising EUR 4,8 million. Achieved during the typically quiet summer period, the result reflects strong investor interest in the project.
“This is a notable achievement for the summer season and a sign of continued support for projects with real potential,” said Povilas Urbonavičius, Manager of Lords LB Special Fund V.
Proceeds will support ongoing construction, including the installation of the modern glass-aluminium façade, interior wall panels, metal structures and elevator shafts. Construction is moving ahead steadily and remains on schedule.
The 10% annual yield bonds, maturing on June 4, 2027, were offered via Artea Bank with Orion Securities and Redgate Capital as sales agents. For the first time, investors could also participate via the Mintos platform, with a minimum investment of EUR 50. The first week’s offering was fully sold out.
To date, the program has raised EUR 26,1 million across three tranches. Further issuances are planned to continue supporting the project’s phased development.
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 9651
Igors Daņilovs
Financial director
igors.danilovs@lordslb.lv
+371 26765354
Information provided by AS PN Project.