Vilnius/Riga/Tallinn, Nasdaq Baltic Market, June 23, 2022 – Nasdaq (NDAQ) announces that the third bond issue of the Capitalica Baltic Real Estate Fund I, which is managed by Capitalica Asset Management, have been admitted to trading on the Nasdaq Baltic First North bond market by Nasdaq Vilnius on June 23, 2022.
The size of the third bond issue is EUR 3 million. The nominal value of one bond is EUR 100. The two-year bonds have an annual interest rate of 5% and mature on June 3, 2024.
“We congratulate Capitalica Asset Management on the admission of another bond issue on the Nasdaq Baltic First North market,” says Saulius Malinauskas, President of the Nasdaq Vilnius Stock Exchange. “Capitalica Asset Management is actively pursuing the business opportunities offered by the debt securities market and has been building its securities market success story on the Baltic capital market since 2019. This is the third bond issue to be admitted to trading on Nasdaq Baltic First North. We are pleased with the company’s activity on the public securities market and wish all success in achieving its business goals“.
“The listing of the bonds on First North, the alternative securities market operated by Nasdaq Vilnius, provides an opportunity to diversify our growth model by leveraging the Nasdaq exchange in the Baltic markets. In addition to raising capital, we are also gaining liquidity, transparency, credibility and visibility, which is important for the investors of our fund”, says Andrius Barštys, CEO of Capitalica Asset Management.
The funds raised through the bond issue were used to partially refinance a EUR 5m bond issue placed in 2019. The proceeds from the bonds three years ago were invested in Verde, a green concept complex of two Class A office buildings being developed in Riga.
“Three years ago, our investors’ confidence was driven by the fund’s other profitable and income-generating properties. Meanwhile, this year the investment in bonds was offered under extremely safe conditions: the Verde project is already in the final stage of development, and the first building of the complex will open its doors to tenants in the summer of this year. It has already leased 75% of its office space. Among the largest tenants of this office complex are Swisscom, a Swiss telecommunication service provider and software developer, Decta, a financial technology company, KPMG Latvia, an international provider of professional services, Workland, a provider of office space solutions, and other companies operating in Latvia,” says Barštys.
Sorainen law firm is company‘s certified adviser for First North, while Šiaulių bankas was the arranger of the third bond issue.
About Capitalica Asset Management and SBA Group
Capitalica Asset Management (www.capitalica.lt) is an investment management company licensed and supervised by the Central Bank of Lithuania. It manages investment funds investing in commercial real estate in the Baltic states. Capitalica Baltic Real Estate Fund I, managed by Capitalica Asset Management, owns the office complex Verde in Riga, the business centre 135 in Vilnius, the business centre Kauno Dokas in Kaunas and the shopping centre Luizė in Klaipėda. Capitalica Green Logistics Fund currently owns two green logistics complexes in Tallinn and is actively negotiating new acquisitions in the Baltics. Capitalica Asset Management is majority-owned (70%) by SBA Group, one of the largest Lithuanian business groups, with 30% held by Fox Holdings, a company owned by Mr. Barštys (CEO of Capitalica Asset Management).
SBA is one of the largest Lithuanian business groups. It owns more than 30 companies active in real estate, furniture manufacturing, textile production and investment management. The Group employs around 5,000 people.
About First North
First North is a multilateral trading facility (MTF) tailored to support smaller, growing companies that want to raise capital and get the visibility and credibility of being a public company. Respectively, for investors, First North offers an opportunity to invest in companies that are in relatively early stages of their growth. First North is an alternative market and is often seen as a first step towards trading on the regulated market.
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Nasdaq Baltic represents the common offering of the Nasdaq Tallinn, Nasdaq Riga, Nasdaq Vilnius securities exchanges as well as Nasdaq CSD. Read more: nasdaqbaltic.com.
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