Metanira issues a third tranche of 10% yield asset-backed bonds worth EUR 3.745 Million
Metanira UAB, a developer of residential and commercial real estate in Gandia, Valencia, Spain, is offering an opportunity to invest in a EUR 3.745 million asset-backed tranche of its outstanding EUR 7 million public bond. The funds will be used to complete the construction and commercialization of the recently acquired Gandia Hills real estate project. The bonds will mature on September 5, 2025, and offer investors an annual yield of 10%.
The placement of the securities starts on the 10th of March and runs until 15:30 on the 27th of March. The placement will be made through a NASDAQ auction. Investments are open to both private and institutional investors, with investment applications being made through banks and brokerage firms. The placement is organised by Orion Securities.
Project presentation: 18th March at 2 PM, Zoom platform [in English] REGISTER HERE
The minimum investment amount is EUR 1,006.944. The interest will be paid together with the redemption of the bonds on the 5th of September.
The funds raised will be used for the full completion of the Gandia Hills residential and commercial real estate project (EUR 1.745 million), including the installation of air conditioning and heating systems, painting of the building, refurbishment of the paddle court, refurbishment of the swimming pool, and the installation of a fitness room among other construction works. Another part of the funds will be used to partially refinance shareholders’ bridge loans (EUR 2 million).
Asset-backed bonds
Following the placement of the bonds, a first ranking pledge on the real estate will be created in favour of the bondholders, ensuring that the bondholders will have a priority right to repayment. According to a valuation carried out by the Spanish real estate valuation agency Cruz Rocafor in February 2025, the market value of the complex at its current stage of completion amounts to EUR 14.7 million, and the market value of the complex at its 100% completion will amount to around EUR 21.7 million.
“This issue provides investors with a really solid collateral, as the loan to value ratio will be only 48%, i.e. the value of the pledge is more than double the liability to investors. Moreover, it is important to note that the Gandia Hills complex has already been acquired and fully paid for, which provides additional security to the investors. In addition, the complex is currently 95% complete with fully finished apartments. Additional investments are left to be made in the construction works to complete the project and successfully sell it to the new residents, who are already showing considerable interest in the project” says Matas Jakubėlis, Associate at the Investment Banking Division of Orion Securities.
Gandia Hills has already attracted a lot of interest from buyers
The real estate project itself has already attracted interest from more than 50 potential buyers in the first two weeks of February, and 10 of the 61 apartments in the complex have been already reserved. Today, RE/MAX, one of the world’s leaders in real estate sales, is taking care of the apartment sales.
“Not only local residents are interested in the project, but also investment companies are negotiating the prices for acquiring dozens of apartments” says the Issuer’s Director Paulius Dzemijonas.
“The residential property is classified as a premium economy class. The apartments range in size from 2 bedrooms 65 m² to 4 bedrooms 120 m². The rooms, kitchens and bathrooms are larger than in traditional Spanish apartments and are built with high quality materials. We believe that these factors strongly contribute to the complex’s appeal to buyers” says Paulius Dzemijonas.
The property market in Valencia: growing demand and investment opportunities
In recent years, the Valencia region has been experiencing a rapid development of the property market. Demand for housing is constantly increasing, while supply does not always meet buyers’ expectations. In 2024, property prices in the Valencia region on average increased by 16%. This is due to rapid population growth, the interest of foreign investors and the limited supply of new construction.
Gandia is one of the most attractive investment destinations in Spain
Gandia is a resort town on the Mediterranean Sea, just 70 km from Valencia. It has seen an 8% increase in house prices over the past year, with rental prices rising by as much as 37%. The main buyers are Spanish, but international investors are also showing increasing real estate investment interest in the city. Gandia is characterised by its well-developed infrastructure, university, shopping centres and a well-developed tourism sector.
How to invest?
Contact the brokerage firm or a bank that manages your securities account to place an investment order. If you do not have an investment services agreement with a financial intermediary in Lithuania/Estonia/Latvia, leave your contact details in this form and you will be contacted by an Orion Securities consultant or send an email to bonds@orion.lt.
More information: https://www.orion.lt/en/metanira-pulic-bond-offering/
Project presentation
Investors are welcome to join us for project webinar. Paulius Dzemijonas, the CEO of Metanira and Rytis Jakaitis, a shareholder of Metanira, together with CEO of Jepri Haus Sidas Paulauskas, and the Orion Securities team will present the project details and answer investors’ questions:
18th March at 2 PM Zoom platform [Presentation in English] REGISTER HERE
Related documents: Information Memorandum (EN) | Information document (EN) | Final terms (EN)
Orion Securities suggests that you consult with your financial advisor before making an investment decision and assess any risks and/or other circumstances relevant to the financial instrument.
