The bond programme is launching a new tranche
The fourth tranche of the bond issue is being offered publicly to private and institutional investors in the Baltic States from 14 to 25 September. The annual yield on the bonds in this tranche will be 7.0 per cent. Interest is paid every six months, and the bonds mature in just over a year – on 29 November 2027. The issue price per bond and the minimum investment amount are both EUR 1,038.01.
„Full completion of the building’s construction was registered in March this year, and the first businesses have already moved into the business centre. We are seeing growing interest from tenants – contracts have now been signed for 19 per cent of the total area at Hermanas, and when including letters of intent, around 65 per cent of the space is now taken. Ongoing negotiations give us reason to expect to end the year with an even higher occupancy rate,“ says Kasparas Juška, Investment Director at SBA Urban.
Luminor Bank is organising the bond issue, with advice from the law firm Ellex. Investors can purchase the bonds via a securities account at any major bank operating in Lithuania or at other institutions providing investment services. The bonds are also listed on the Nasdaq Baltic First North exchange.
The Hermanas business centre first issued its bonds in May 2025. To date, the centre has raised EUR 17.3 million in investment. Over 500 investors from across the Baltic states have already invested in the bonds.
The first tenants have already started operating
The Hermanas Business Centre is the first commercial building in central Kaunas, in the Nemunaičiai district, on the left bank of the River Nemunas. The project offers 10,900 sqm of Class A office space for rent, and the building was registered as 100 per cent complete in March 2026. Final minor construction and finishing works are currently underway; premises are being fitted out for tenants, and the first businesses have already moved in and are operating. In total, SBA Urban plans to invest up to EUR 35 million in the project.
Hermanas is a part of the Nemunaičiai district, which is being developed on a 6-hectare site; SBA Urban, together with TABA Invest, plans to invest more than EUR 250 million in this project. The neighbourhood will feature over 600 apartments and more than 30,000 sqm of commercial space.
The first phase of the neighbourhood – the Miestas residential project, comprising nearly 170 apartments – was completed and fully sold out in 2024. The Pasaka residential project is currently under construction next to Hermanas, with more than 90 per cent of the 90 apartments under development already reserved. Furthermore, construction of the Poemos residential project began in the neighbourhood this summer, which will offer 42 prestigious apartments.