UAB “Sostinės bokštai” will begin the public offering of a €4 million bond issue. This is the fourth tranche of the bond issue, which raises funds for the “Hero” business center being developed in Vilnius’ central business district.

In the previous three tranches, investors purchased bonds worth €19.5 million. €13.5 million was borrowed from the market through the private placement of two bond tranches. An additional €6 million in investments was raised during the third public bond tranche.

In this stage, investors from Lithuania, Latvia, and Estonia will be offered debt securities with a maturity of up to 2 years. The fulfillment of obligations is guaranteed by collateral, which includes land and buildings. The nominal value of each bond is €1,000, and investors will receive an annual interest rate of 6-month EURIBOR + 6%, paid semiannually. The bond subscription period is from August 19th to September 4th.
Intensive work is currently underway at the construction site of the “Hero” business center. The 12th and 14th floors are being constructed out of the planned 14 and 15 floors, respectively. Facades are also being installed, and some of the internal engineering networks are being set up.

€45.5 million has already been invested in the project. The total investment in the “Hero” business center, being developed in Vilnius’ central business district, will amount to €112 million. It is planned to borrow about 60% of this amount – up to €67 million – from the public capital markets.

The modern, Class A “Hero” business center is being developed by “Realco”, a commercial and residential real estate developer with 18 years of experience in the market.