UAB Orkelos valdymas (St. Jacob's Quarter in central Vilnius) to issue bonds with 9.5% interest. Invitation to a webinar on 30 October.

UAB Orkelos valdymas (St. Jacob's Quarter in central Vilnius) to issue bonds with 9.5% interest. Invitation to a webinar on 30 October.

UAB Orkelos valdymas, which owns St. Jacob’s Quarter in central Vilnius, is issuing up to EUR 12 million 18-month unsecured bonds with a fixed annual interest rate of 9.5%. The proceeds will refinance the company’s bonds maturing on 11 November 2026. The bonds are offered in Lithuania, Latvia and Estonia through a Nasdaq Vilnius auction from 28 October to 9 November 2026.

Key terms of the issue:

• Issue size: up to EUR 12,000,000
• Interest rate: 9.5% fixed per annum
• Maturity: 18 months (redemption date: 11 May 2028)
• Coupon payments: semi-annual
• Nominal value / minimum investment: EUR 1,000 (issued at par)
• Type of bonds: unsecured
• ISIN: LT0000139362
• Offering period: 28 October – 9 November 2026, 15:30*
• Settlement date: 11 November 2026

*Order acceptance deadlines may vary between banks and investment firms.

Investor webinar in English: 30 October 2026, 14:00. Registration link: Webinar EN
Investor webinar in Lithuanian: 30 October 2026, 10:00. Registration link: Webinar LT

Proceeds gathered from the public offering will be combined with funds raised from a separate up to EUR 4 million bond issue (in total raising no more than EUR 14 million) and used to redeem the EUR 14 million 8% bonds issued in 2025 (ISIN LT0000133951) on 11 November 2026.

“St. Jacob’s Quarter is a completed, operating project. School opened its doors in April 2025, AC Hotel by Marriott Vilnius has been welcoming guests since October 2025, and the office premises are almost fully let. With this issue we are refinancing our previous bonds and giving existing investors the opportunity to roll over their investment,” says Rytis Zaloga, CEO of UAB Orkelos valdymas.

A completed, operating complex in central Vilnius

St. Jacob’s Quarter (Vasario 16-osios g. 1, Vilnius) is a complex next to Lukiškės Square with 18,800 m² of lettable area. It includes:

• the 271-room AC Hotel by Marriott with a 400-seat conference centre
• premises of the “Šiuolaikinės mokyklos centras” (private school)
• offices
• a 233-space underground car park

According to the issuer, signed leases cover 98.9% of the lettable area. The weighted average unexpired lease term (WAULT) is 18.4 years, or 9.3 years excluding the hotel lease.

An independent valuation as of 30 April 2026 puts the market value of the project at EUR 80.7 million. The SEB loan and the bonds together give a loan-to-value (LTV) ratio of 67% against that value. Management’s forecast and budget (unaudited) project combined NOI (EBITDA) for Orkela and Pakeira of EUR 3.8 million in 2026. As the hotel ramps up, this is expected to reach EUR 5.1 million in 2027.

“In the Baltic bond market, investors increasingly value issuers whose cash flows come from assets that are already operating rather than only from planned projects. Issues like this not only widen investors’ choice but also raise the quality bar for the whole market,” says Tadas Teresevičius, CEO of the investment firm OSUM Securities.

Covenants and trading

The bonds are unsecured. The issuer undertakes to keep the group’s LTV at or below 75% and its interest coverage ratio (ICR) at or above 1.40x. Payouts to shareholders are restricted while the bonds are outstanding.

The issuer may redeem the bonds early, in full or in part, at the following prices:

• until 11 February 2027: 101% of nominal value
• until 11 May 2027: 100.5%
• thereafter: 100%

Accrued interest up to the redemption date is added in all cases.

The bonds are expected to be admitted to trading on Nasdaq First North on the issue date.

Holders of the existing bonds can exchange them for the new bonds at a 1:1 ratio. Each EUR 1,000 nominal bond is exchanged for one new EUR 1,000 bond, and accrued interest is paid in cash on the issue date. Participation in the exchange is voluntary, and bonds that are not exchanged will be redeemed in cash. Holders of the existing bonds wishing to participate in the exchange should submit an exchange instruction to the financial institution where their bonds are held during the offering period.

The bonds are offered to retail and institutional investors in Lithuania, Latvia and Estonia through banks and investment firms:

• Lithuania: OSUM Securities, SEB, Swedbank, Citadele, Artea, Evernord, Orion, Luminor
• Latvia: Signet Bank, Luminor, Citadele, SEB, Swedbank, BluOr
• Estonia: Luminor, SEB, Swedbank, LHV, Redgate Capital, Lightyear

The arranger of the issue is the investment firm OSUM Securities, the certified adviser is law firm Ellex Valiunas, and the bondholders’ trustee is RSM Lithuania, UAB.

More information and issue documents: https://lordslb.lt/orkela-valdymas-bonds/
For enquiries, please contact: obligacijos@osum.lt, tel.: +370 687 58168

This is a marketing communication and does not constitute investment advice or a recommendation. Before making an investment decision, please read the Information Document and the Final Terms. The Information Document is not a prospectus and has not been approved by the Bank of Lithuania. Consult a financial adviser if necessary. Investing in bonds involves risk, and you may lose part or all of your investment. Past performance is not a guarantee of future returns.

About UAB Orkelos valdymas. UAB Orkelos valdymas is a holding company established in 2016. Its sole shareholder is Lords LB Special Fund IV, managed by UAB Lords LB Asset Management. The company owns 100% of the shares of two companies: UAB Orkela, which owns the St. Jacob’s Quarter real estate, and UAB Pakeira, which operates AC Hotel by Marriott Vilnius under a franchise agreement (the hotel is managed by APEX Alliance). UAB Lords LB Asset Management, established in 2008, is one of the leading investment management companies in the Baltic States. At the end of June 2026, the collective investment undertakings it manages held assets worth EUR 1.455 billion.

Disclaimer: the information set out above has been provided by the company identified herein and is published solely for informational purposes. Nasdaq Baltic does not take responsibility for the accuracy, completeness, or timeliness of the content and assumes no responsibility or liability for any loss or damage arising from its use.