Published: 2024-04-29 14:52
photo of Vladimir Ivanovs (VŽ).
Sostinės torkai UAB is preparing a public offering of bonds to finance the construction of Hero business center in Vilnius, in which 6 million. Eur will seek to borrow at 6% annual interest and a 6-month EURIBOR supplement.
A 2-year issue, redeemable in 2026, is publicly offered to a wide audience of investors. in may
“Sostinės tųrtai” offers to purchase subordinated bonds with a nominal value of EUR 1,000, for which interest is paid every six months. Bond investors are provided with the primary title of the building and land plot on Kalvarijų st. 24 pledge.
The issuer plans to borrow up to EUR 67 million in total. Eur, the offering starting on Tuesday is the third part of the planned issue. Funds were raised for the said issue last year by issuing bonds for 13.5 million. Eur.
The issuer reserves the right to redeem the bonds early. Within 6 months of issuance, the bonds will be listed on First North, an alternative market operated by Nasdaq.
The bonds are issued to finance the “Hero” office building in Vilnius under development by “Realco”. The construction of two buildings with an area of 31,606 square meters should be completed in 2025. Investments in the project should reach a total of 112 million. Eur.
UAB Sostinės torkai is indirectly owned by Vitus Janukonis, Ignais Janukonis and Gintautas Jaugielavičiis.
In a recent public bond offering for the Sand Offices business center, Capitalica Z114 Real Estate Fund, an investment company managed by the investment management company Capitalica Asset Management, borrowed for 2 years and 3 months with a primary mortgage of a building under construction at 6% annual interest and a 6-month EURIBOR premium.
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