Riga/Tallinn/Vilnius, Nasdaq Baltic Market, August 29, 2025 – Nasdaq (NDAQ) announces that bonds issued by PN Project were admitted to trading on the Nasdaq Baltic Bond List by Nasdaq Riga as of today.
AS PN Project, the developer of Preses Nama Kvartāls, has successfully raised EUR 26,1 million across three tranches of its bond program. Further issuances are planned to continue supporting the project’s phased development. Each bond has a nominal value of EUR 1,000 and provides an annual interest rate of 10%, with payments made semi-annually. The bonds will mature on June 4, 2027. The offering attracted participation from over 1,200 investors.
"This year, many new bond offerings have been initiated by companies in the real estate sector, and the PN Project issue is among the largest in the Baltics and the largest in Latvia. The company's listing on the exchange is expected to support its ongoing development, provide investment opportunities, and result in the establishment of a new urban object, the Preses Nama Kvartāls, in Riga", says Liene Dubava, Chair of the Management Board of Nasdaq Riga.
“We are proud to see PN Project bonds debut on the stock exchange – it marks an important milestone for the project and for the development of the city. More than 1,200 investors from the Baltic states have already placed their trust in our bonds, and we will continue the bond program with upcoming tranches until the successful completion of the Preses Nama Kvartāls construction. The works are progressing at full speed – façade elements are being installed, and the building is steadily taking its final shape,” says Igors Daņilovs, CFO of PN Project.
PN Project is a real estate developer working on the Preses Nama Kvartāls – a new business center in Riga, Ķīpsala. The first phase of the project includes a modern 11-story Class A office building, scheduled for completion in 2026.
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Sanita Gailāne
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