Tech Zity Vilnius bond issue successfully placed

A further bond issue has been successfully placed in the Baltic market, with Ellex Lithuania preparing the issue documentation, including the security agreements. Project Lilium UAB issued €9.57 million in two-year Tech Zity Vilnius bonds. Trading in the bonds commenced on 28 September on the Nasdaq Baltic First North market through Nasdaq Vilnius.

Project Lilium plans to use part of the proceeds to redeem its previously issued bonds, while the remaining funds will be allocated to the development and further expansion of the Tech Zity Vilnius project. 

Each bond has a nominal value of €1,000 and an annual interest rate of 8.75%, with interest paid semi-annually. The bonds mature on 28 September 2028.

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

Tech Zity Vilnius is a technology and creative industries hub being developed by UAB „Project Lilium“ on the site of the former Lelija textile factory complex in Vilnius. The project will comprise seven buildings on a 2.1-hectare site, with a total area of approximately 39,700 sq. m. The first phase is nearing completion. The office building has been operational since March 2026, while other buildings, which will house the Samsung conference centre, eight restaurants and a wellness clinic, are scheduled to open in October 2026.