KAUNAS HUB PROJECT PUBLIC BOND EMISSION

On 5 October 2023, SBA Group company UAB Urban hub investments successfully placed a public bond issue of EUR 8 million to finance the development of the first phase of the Kaunas Urban HUB project.

Each bond has a nominal value of EUR 10 000 and an annual coupon rate of 10.75%, paid quarterly. The date of maturity is 05 October 2025. Šiaulių bankas and Redgate Capital are the distributors of the bonds issue, Ellex Valiunas serves as legal advisor.

The first phase of Kaunas HUB will consist of the development of four buildings with 22,000 sqm of leasable area. The first phase will also include approximately 500 parking spaces, an A6 highway drive-in, internal roads, green areas and other infrastructure necessary for the functioning of the first and subsequent phases of the project. Construction of the first phase started in May 2023 and is scheduled for completion in April 2024. The general contractor is YIT Lietuva.

MAIN TERMS

Issue size
8 mln. €
Maturity date
5 October 2025
Coupon rate
10.75% per annum
Coupon payments
Quarterly
Minimum investment
10 000 €

INSIGHTS & UPDATES

2024-01-05

The issuer has successfully completed the first coupon payment. EUR 215K were distributed among the bondholders. Additionally, the quarterly covenant report was provided to the Trustee.

2024-04-05

The issuer has successfully completed the second coupon payment. EUR 215K were distributed among the bondholders. Additionally, the quarterly covenant report was provided to the Trustee.

2024-06-11

Ernst & Young Baltic UAB has completed the audit of the consolidated financial statements of UAB Urban hub Investments and its subsidiaries for the year ended 2023. The audited financial statements can be found here.

2024-07-05

The issuer has successfully completed the third coupon payment. EUR 215K were distributed among the bondholders. Additionally, the quarterly covenant report was provided to the Trustee.

2024-10-05

The issuer has successfully completed the fourth coupon payment. EUR 215K were distributed among the bondholders. Additionally, the quarterly covenant report was provided to the Trustee.

 

 

Skambinkite
Urban HUB stock office statys YIT Lietuva

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