Issuance completed in just one day
Kasparas Juška, Head of Investment at SBA Urban: „Investor confidence is essential in developing real estate projects such as Vėjo Miestelis. The successful placement of two tranches of the bond issue confirms that investors believe in this project. The second tranche attracted 239 investors, with an average investment of just over EUR 7,000. We plan to offer the remaining part of the EUR 5 million bond issue in the first half of next year“.
The public bond issue, secured by a first rank mortgage of the project’s real estate and the company's shares, offered the investors an annual coupon rate of 9.25%, paid semi-annually. The second tranche of the bonds has a maturity of 21 months. The minimum investment amount was EUR 1,000, and the bonds were distributed through the bond platform BeMyBond. Although the distribution period was planned to be completed in the week of November 20th to 27th, due to high demand, it was completed much earlier – in just one day.
Indrė Dargytė, BeMyBond CEO: „We have noticed that investors in Lithuania particularly value bonds with real estate collateral. This is seen as a straightforward and clear guarantee of investment security. We structured Vėjo Miestelis bond issuance precisely with this in mind, aiming to provide investors with maximum safeguards. Coupled with the reputable name of SBA Group and the truly unique vision of the Vėjo Miestelis, we have offered investors an exquisite bond project“.
Construction work is progressing rapidly, with the first phase scheduled for completion in May 2025
Kasparas Juška concludes: „The infrastructure being developed on a 36-hectare site in Svencelė, combining active lifestyle, recreation and work, makes Vėjo Miestelis stand out from other real estate projects in the market. Its uniqueness, together with SBA Urban reputation as a reliable developer, fosters strong investor confidence. Moreover, SBA Urban group has recently successfully redeemed a EUR 3.5 million bond issue for the Kopų Slėnis apartment project in the seaside – this is yet another indicator of reliability for investors“.
The bond issue proceeds will further develop the fast-growing first phase. It is planned that all 25 houses in the first phase will have roofs and windows installed and completed by early February. The RNDV Statyba general contractor team will shift their focus indoors with the interior finish and other works. In February, sports infrastructure works will commence—a sports field with two tennis courts and three padel courts. The construction is scheduled to be completed in May 2025.
In the second phase, 36 additional residential units will be offered to the market. The „city within a city“ concept will be fully realised in the following phases: a hotel, co-working space, cafes, restaurants, spa areas, and a marina.
