The subscription period runs from October 14 to October 31, 2025, and the bonds will mature on June 4, 2027. The planned issue volume is up to EUR 10 million, with a minimum investment of one bond priced at 1041.9178 EUR (nominal EUR 1,000). The issuance is arranged by Artea Bank, with Orion Securities UAB and Redgate Capital AS acting as sales agents.
To date, the PN Project bond program has attracted more than EUR 30 million, representing half of the total required funding for the office building’s development. The previous tranches have successfully financed key construction milestones, including completion of the main structure, façade installation, and other ongoing works. In addition, in August the bonds were listed on the Nasdaq Baltic market, further enhancing transparency and liquidity for investors.
“With construction now more than halfway complete and half of the required bond financing already secured, Preses Nama Kvartāls is entering the second phase of its development, with internal engineering and fit-out works set to begin shortly,” says Povilas Urbonavičius, Manager of Lords LB Special Fund V. “Each bond tranche brings us closer to delivering a modern office building in the heart of Riga. We invite investors to join us in completing this landmark project that will redefine the city’s business landscape.”
AS PN Project also publishes its bond programme's second prospectus supplement that was approved by Central Bank of Latvia. Bond programme prospectus was updated to reflect the latest developments at AS PN Project.
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.