AS PN Project, the developer of the Preses Nama Kvartāls in Riga, hosted investor webinar on February 12, 2026. The session provided a comprehensive update on the current public bond offering and the construction progress of the Preses Nama Kvartāls office centre, which is scheduled for completion in 2026.

Webinar recording: https://lordslb.lt/wp-content/uploads/2026/02/as-pn-project-eur-3-million-public-bond-issuance-webinar-20260212-110113utc-meeting-recording.mp4

AS PN Project has launched the ninth bond tranche, offering a 9.5% annual yield with semi-annual coupon payments with subscription date till February 20, 2026, while the bond maturity date is set for June 4, 2027. The issuance is arranged by Artea Bank, with Orion Securities UAB and Redgate Capital AS acting as sales agents.

The planned issue volume of the ninth tranche is up to 3 million EUR, with a bond price at 1,028.0542 EUR (nominal value of 1,000 EUR). The proceeds from the bond issuance will be mostly used to finance construction and interior fit-out works of the Preses Nama Kvartāls office building, which is scheduled for completion by the end of 2026.

The bonds are secured by a first-ranking mortgage of approximately 49.6 million EUR over the property of the Preses Nama Kvartāls project. According to the latest independent valuation as of October 2025, the value of the pledged property has risen to 75.1 million EUR.

About Preses Nama Kvartāls

The development of Preses Nama Kvartāls is carried out in several construction phases. The first phase includes A-class office building. The concept of further development of landplot includes a medical or educational center, hotel or residential building, an office building and other facilities. Renovation works of the existing Preses nams building are also planned. The project developer is Lords LB Asset Management, whose total assets under management reached 1,338 billion euros as of June 2025.