In the fourth tranche of the bond program, 3,745 bonds were sold, attracting EUR 3.85 million. Half of the investment came from Lithuanian investors, while the remaining half was secured from investors in Latvia and Estonia, showing strong regional interest. The proceeds will be directed towards the next stages of construction, ensuring that progress continues according to schedule.
“Exceeding the target in this tranche confirms the strong and steady support for Preses Nama Kvartāls. Investor confidence has gone hand in hand with visible progress – from completing the 11-storey office building’s structural works and marking this milestone with a topping out ceremony, to starting façade installation and successfully listing the bonds on Nasdaq Baltic,” said Povilas Urbonavičius, Manager of Lords LB Special Fund V.
The 10% annual yield bonds, maturing on June 4, 2027, were offered via Artea Bank, with Orion Securities and Redgate Capital acting as sales agents. Investors can also participate via the Mintos platform, starting from a minimum investment of EUR 50.
With the fourth tranche now complete, the program has raised a total of approximately EUR 30 million to date, with further issuances planned to continue supporting the phased development of Preses Nama Kvartāls.
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. The concept of further development of landplot includes a medical or educational center, hotel or residential building, an office building and other facilities. 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.