We advised ATIISIB NordSpace on its up to EUR 10 million public bond offering in Lithuania, Latvia and Estonia, the first tranche of which was fully subscribed by institutional and retail investors across the Baltics.
NordSpace owns and operates a portfolio of 13 small business property projects in Lithuania, Latvia and Poland, comprising a total leasable area of 39,437 sq. m.
The bonds have a three-year maturity and carry a fixed annual coupon of 9%. Redgate Capital acted as the lead manager of the offering. Part of the proceeds were used to redeem the company’s EUR 3.3 million bond issue placed in 2025, while the remaining funds will support NordSpace’s continued expansion across Lithuania, Latvia and Poland. The bonds are expected to be admitted to trading on the First North Bond List operated by Nasdaq Vilnius.
The offering of the first tranche of the bonds attracted strong demand from both institutional and retail investors throughout the Baltic region and was fully subscribed. The accompanying exchange offer was also well received, with more than one-third of existing bondholders electing to exchange their bonds for the new issue despite the lower coupon rate, demonstrating investor confidence in the company’s long-term growth strategy.
Our services and client team
We advised NordSpace on the preparation of the information document and all legal aspects of the public offering, including offering documentation, regulatory matters and the admission-to-trading process.
The Sorainen team consisted of partner Augustas Klezys, counsel Dr Lina Aleknaitė-van der Molen and associate Deimena Špucytė.
