The total face value of the issue is EUR 3,000,000.00 and it shall be used up for turn-around of the property at 2 Kr. Barona Street, Riga, that has been recently acquired, as well as for acquisition of new properties that align with the Group’s strategy. The bonds are unsecured and have a 5 years maturity, with an annual coupon fixed at 2.25% plus a potential additional variable Step-up Interest Rate Increase up to 2.50%, conditioned to reaching Target Revenues by the Issuer.
AS BluOr Bank acted as issuing agent.

AS Baltic RE Group already benefits from a positive track record, having issued in 2016 corporate bonds securities, then listed on Nasdaq Baltic. Those bonds included a call premium in the event of early redemption, and the entire issue was redeemed before the maturity by paying the call premium to all bondholders.

Giovanni dalla Zonca, Founder and CEO of Baltic RE Group, says: “We are extremely proud to have completed the placement of bonds with such innovative terms for the Baltic market. The Step-up Profit Sharing mechanism allows a virtuous division of economic success between issuers and bondholders and defines a solid chance of diversifying sources of financing.

There are interesting investment opportunities in the real estate industry which can be brilliantly and successfully served by a qualified bond market”