Corwin, the Slovak company which has established itself as a major real estate developer in Ljubljana in recent years, has announced a €9.5 million bond issue in Slovenia, to finance a new development in the capital.

The five-year bonds, carrying a 6% annual interest rate, are secured by land slated for the construction of Linhartov Kvart, a commercial and residential development in Ljubljana.

The issue is managed by the brokerage Ilirika and the prospectus has been approved by the Securities Market Agency, Corwin wrote in a press release on 26 October.

Bonds will be available for purchase until January 2024, with the minimum investment set at €10,000. After the sale is completed, the bonds will be listed on the Ljubljana Stock Exchange.

The Linhartov Kvart project, which is planned on a 16,500 m2 plot south of Linhartova Road in the northern Ljubljana borough of Bežigrad, is in the initial phase.

The funds collected through the bond issue will be used to finance planning documents, preparatory work on site, and for other Corwin projects. The construction will also be financed with bank loans and own funds.

Corwin has been present in Slovenia since 2018, when it bought land next to the Celovški Dvori development in the borough of Šiška, where it is finalising the Kvartet residential complex.

The company's second project in Ljubljana is the Vilharia office building along Vilharjeva Road by the central railway station. It also plans a residential building along Masarykova Road and a project to redevelop the area of the former Kolinska plant.