UAB CAPITALICA EUROPEAN OFFICE FUND bond issue

About company

Capitalica Asset Management, operating since 2016, develops and manages commercial real estate with EUR 255 million in assets under management and GLA of 100,000 m².

Drawing on its deep investment experience, Capitalica Asset Management oversees 4 real estate investment funds comprising 12 objects across the Baltic region, with a 91% occupancy rate. The portfolio targets high-quality office, retail, and logistics properties in prime urban locations.

Capitalica European Office Fund (the Bond Issuer), established in 2023, owns S18 business center in Vilnius and is developing phases C and D of the VERDE Complex in Riga, further expanding in prime locations.

The Fund is managed by Gintaras Toločka together with a team of seasoned professionals at Capitalica Asset Management, bringing extensive experience in both real estate and capital markets.

Capitalica has an established capital markets track record, with more than EUR 69 million bonds issued in total and EUR 52 million already redeemed, including those financing VERDE phases A & B.

The VERDE Complex is a prominent development in Skanste, Riga’s modern business district. The project is located approximately 5–20 minutes from Riga’s key transport hubs. Supermarkets, restaurants, parks, and cultural and sports venues are within walking distance.

The VERDE Complex currently comprises buildings A and B, which were successfully completed in 2022 and 2024, respectively. Both buildings offer a combined gross leasable area of approximately 30,000 m² and are 100% leased to recognized international and regional tenants.

Phases C and D will be developed gradually. The financing for phase C is already secured via loan from Rietumu Banka and the construction works have been initiated.

The phase C and D development will comprise two six-storey office buildings with a combined GLA of approximately 22,500 m². With the construction of the new buildings, VERDE will become the largest business district in Latvia, offering 50,000 m² of leasable office space. The bond issuance is structured with a Loan-to-Value (LTV) covenant of maximum 70%, tested at the Capitalica European Office Fund consolidated level.

Additional information: https://signetbank.com/wp-content/uploads/2026/02/260202_Verde_teaser_EN_Capitalica_FINAL.pdf

Presentation: https://signetbank.com/wp-content/uploads/2026/02/CEOF-VERDE-bonds-investor-presentation_final.pdf

Term Sheet

Issuer

UAB CAPITALICA EUROPEAN OFFICE FUND

Security type

Unsecured bonds

ISIN

LT0000136970

Offer type

Public offering

Program size

EUR 8 million (option to increase up to EUR 12 million)

First tranche

EUR 3 million

Coupon rate

8.0%, fixed

Coupon frequency

Semi-annually

Maturity

2.5 years

Principal repayment

Maturity date, bullet

Call Option

• @101% after 6 months from the issue date
• @100.5% between 12 and 18 months from the issue date
• @100% after 18 months from the issue date

Put Option

In case of Change of Control or De-listing Event @100%

Nominal value

EUR 1,000

Minimum subscription

EUR 1,000

Listing

Nasdaq First North on the issue date

Use of proceeds

Construction and development of phases C & D of VERDE offices

Financial covenants*

Max LTV 70%**

Lead Manager

AB Artea bankas (Lithuania)

Co-Manager

Signet Bank AS (Latvia)

Legal Adviser

Ellex Valiunas (Lithuania)

Trustee

UAB AUDIFINA (Lithuania)

* Full list of covenants can be found in the Information Document

** Nominal value of the Bonds and other loans of the Issuer and the Subsidiaries, excluding any shareholder loans / Assets and cash balance of the Issuer and Subsidiaries

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