Orkelos valdymas completed a €11.7 million bond issue

UAB Orkelos valdymas raised €11.7 million through a public bond offering that closed on 9 November to refinance its previous bond issue. On 11 November, the bonds were admitted to trading on the Nasdaq Baltic First North market through Nasdaq Vilnius.

Each bond has a nominal value of €1,000. The 18-month bonds carry an annual interest rate of 9.5%, payable semi-annually, and mature on 11 May 2028. Lithuanian investors accounted for 86.8% of the bonds placed through the public offering, Latvian investors for 8.6% and Estonian investors for 4.6%.

The issue documentation was prepared by Eglė Neverbickienė, Associate Partner at Ellex Lithuania, and Aistė Noreikaitė, Legal Assistant.

Orkelos valdymas, which manages St. Jacob’s Quarter in central Vilnius, is part of the Lords LB Asset Management group. Located on the former site of St. Jacob’s Hospital, between Lukiškės Square and the White Bridge, the quarter accommodates the AC Hotel by Marriott Vilnius, the Šiuolaikinės mokyklos centras school, company offices, restaurants and cafés in restored historic and newly constructed buildings. A total of 98.9% of the quarter’s 18,800 sq. m of leasable space has been leased.

UAB Orkelos valdymas is a holding company of Lords LB Special Fund IV and owns UAB Orkela and UAB Pakeira, which are associated with the St. Jacob’s Quarter project in central Vilnius. The multifunctional complex covers approximately 18,800 sq. m and combines educational, hospitality, office, retail and other uses.