Ellex has advised Lords LB Asset Management-owned company Vilniaus Miesto Projektai on its EUR 8 million bond issuance.
According to Ellex, the bonds for the Vilnius real estate project have a maturity of 12 months, at an annual interest rate of 6,5%. "The bonds were purchased by more than 40 private and institutional investors from all Baltic countries. The total amount of bonds subscribed by the investors exceeded the number of bonds offered [by] EUR 2.4 million," the firm informed.
"The money raised in this bond issuance will be used for the refinancing and development preparation phase of the former Audejas real estate complex conversion project in Vilnius," Lords LB Asset Management announced.
Vilniaus Miesto Projektai aims to develop offices and co-living and shopping spaces in Lithuania's capital. The buildings are expected to provide 508 units for rent, 30,000 square meters of office space, as well as various commercial premises for trade and services.
The Ellex team was led by Partners Ieva Dosinaite and Giedrius Stasevicius and Associate Egle Radvilaite.