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default 11 December 2020

Company owned by Lords LB Baltic Fund IV successfully placed an EUR 8 million issue of bonds

Forbes Baltics


Terseta UAB, a company owned by investment management company Lords LB Asset Management’s Lords LB Baltic Fund IV, borrowed EUR 8 million euros on the bond market.

The bonds were issued with 18 months maturity at an annual interest rate of 6%.The bonds were purchased by more than 50 private and institutional investors from all Baltic countries. The total amount of bonds subscribed by the investors was close to EUR 16.3 million, exceeding the amount of bonds offered more than twice.

“We have successfully placed a bond issue by Lords LB Asset Management fund’s company. Investors’ big interest confirms that investing in the real estate market is an excellent alternative for the investors who diversify their investment portfolios and acquire the bonds of companies that operate in diverse sectors,” Lords LB Baltic Fund IV fund manager Rytis Zaloga says.

The money raised in this bond issue will be used for the acquisition of Vilnius central post office building. The acquisition transaction is planned to be closed during the upcoming week.

The lead manager for the bond issue was Redgate Capital, legal adviser for the offering was Ellex Valiunas law office and issuing agent for the securities was Šiaulių Bankas. Grant Thornton Baltic was appointed as a Trustee for the bondholders.

The issuer expects to list the bonds on the Nasdaq First North alternative market.

In future, Lords LB Asset Management plans to offer investors more new financial instruments.

Lords LB Asset Management is a premier provider of investment management services to institutional clients and high net worth individuals. Company currently manages 15 funds: 12 real estate funds, 2 private capital funds and 1 energy and infrastructure fund. The total value of assets managed by the funds reached more than EUR 605 million at the end of June 2020.