Additional 1 Million Euro Bond Issuance for 'Sąvaržėlė' Project Completed

UAB "Kvartalas" has successfully concluded an additional issuance of 1 million euros in bonds for its "Sąvaržėlė" business center, with investor demand significantly outstripping the offering. The public offering, initially planned for August 4-7, closed early as demand surpassed the available amount by over three times.

This early closure allowed the issuer to exercise its right to finalize the placement. The bonds are set to be issued on August 11. The distribution aimed to create a stable and diversified investor base. Investors seeking nominal values up to 30,000 euros had their full requests met, while those requesting over 30,000 euros received approximately 30.04% of the amount exceeding that threshold. All orders from individual investors were aggregated to calculate their bond allocation.

The bonds were publicly offered to investors in Lithuania, Latvia, and Estonia. Each bond has a nominal value of 100 euros, with a placement price of 101.9185 euros, including accrued interest. The bonds carry a fixed annual interest rate of 8%, with yield to redemption at 5.75%. The issuance was organized and distributed by the bank "Artea."

Marius Žemaitis, director of UAB "Kvartalas" and board member of "Lords LB Asset Management," stated that the business center is now operational, with increasing occupancy and new tenants joining. The attracted funds will support final payments to contractors. The "Sąvaržėlė" business center, located at Konstitucijos pr. 14A in Vilnius, offers nearly 21,000 square meters of leasable space, with 67% currently leased. Notable tenants include "Artea" bank, "Omnisend," "Audifina," the Lithuanian Bureau of Motor Insurers, "Lumo" restaurant, and "Julius Meinl" cafe. The building holds a BREEAM "Outstanding" rating and was designed by the renowned architectural studio RSHP, founded by Richard Rogers.