The financial brokerage firm Evernord has issued EUR 5.275 million worth of bonds of Evernord Real Estate Fund III and Marijas 2 SIA, a company managed by the Estonian development company Novira Capital, in the eighth round of the public offer. The funds raised finance the construction of Novira Plaza Riga, a business complex in the centre of Riga, in which Evernord Asset Management has a majority stake.

The bonds issued by Marijas 2 SIA have an annual yield of 8.5%. The project has already attracted EUR 37.3 million of investor funds through bonds in all eight phases. The bonds mature on 30 May 2024.

“Double-digit yield bonds have become commonplace in the market, so a successful issue that stays within this threshold must be distinguished by its quality and the trust it has earned with investors. The eighth round of Marijas 2 SIA debt placement already confirms that the investment is in a promising, well thought out and structured project, implemented by a professional and responsible team,” noted Vismantė Šepetienė, Director of Evernord.

Novira Plaza is a modern Class A business centre being completed in the heart of Riga. The business complex is characterised by its sustainable solutions, abundance of green spaces and advanced infrastructure suitable for pedestrians, cyclists and motorists. The developers are aiming for LEED Platinum certification in the first year of the building’s operation.

Novira Plaza is expected to be completed by the end of this year.

The co-working spaces in Novira Plaza will create 250 jobs for entrepreneurs, freelancers, start-ups and companies looking for a flexible and dynamic working environment. Lease agreements with the business complex have already been signed by well-known companies operating in the Baltic States, including PwC Latvia, SIA Wolt Latvia and GoCardless.