November 26, 2014

Ghelamco issues bonds to individual investors

Ghelamco issues bonds to individual investors

After several bond issues directed to institutional investors Ghelamco, one of Poland's biggest developers, will issue a wide range of bonds to individual investors. The offer will be carried out in the framework of the Public Program II Bond Issue with a total value of 250 million zł. This new direction of obtaining finance is related to the dynamic development of the Group, and the proceeds from the issuance will be used for real estate projects in Poland.

The first offer of 500,000 bonds with a total value of 50 million zł will be issued. The issue price of one bond is set at 100 zł and is constant throughout the period of the sale. Interest on the bonds will be paid semiannually. The interest rate offered by the company is based on WIBOR 6-month, plus a margin of 3.50 percent. Offered securities will be issued for 4.5 years, maturing in June 2019. The security bond is Granbero Holdings Limited, controlling all companies of the Ghelamco Group in Poland.

Registration for bonds from Ghelamco Invest addressed to individual investors will run from November 26 to December 9 2014. The Company intends to introduce the bonds for trading on the regulated market of the Warsaw Stock Exchange in 2014.

“Due to the dynamic development of the Ghelamco Group in Poland and further planned investments, we want to get access to wider funding,” said Jaroslaw Jukiel, CFO and Member of the Board Ghelamco Invest.

“Ghelamco historically has issued 17 bond issue directed to institutional investors, and gained more than 1 billion zł, of which 0.5 billion bonds were redeemed in zł after the completion of the projects. Recently conducted emissions, together with bank financing, enabled us to fund important office projects, such as: Senator, Mokotów Nova, T-Mobile Office Park and Warsaw Spire or the acquisition of land for new projects and carrying out preparatory work for a few more projects. Thanks to the 250 million zł raised from the issue addressed to individual investors will be able to develop the Ghelamco Group's investment portfolio in Poland.”

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