Vienna-listed developer Warimpex Finanz- und Beteiligungs Aktiengesellschaft said it plans to launch a public offering of corporate bonds in Poland with a maximum size of PLN 80 mln (€20 mln).
Vienna-listed developer Warimpex Finanz- und Beteiligungs Aktiengesellschaft said it plans to launch a public offering of corporate bonds in Poland with a maximum size of PLN 80 mln (€20 mln).
The subscription period starts on 18 February 2013 and will end on 1 March 2013.
The corporate bonds will have a maturity of three years and will be redeemed at 100% of the nominal value plus accrued and unpaid interest at maturity. The bonds will bear interest at a rate based on the six-month Wibor and a margin, paid semi-annually, on 30 September and 31 March each year after the issue date.
The final interest rate will be determined after the subscription period.
Warimpex intends to apply for listing of the bonds on the Catalyst alternative trading system in Warsaw.
The company said it will use the proceeds from the offering for completion of current and developing new projects, as well as for refinancing of existing indebtedness.
Wood & Co. will act as global coordinator, offering agent and joint bookrunning lead manager. Dom Inwestycyjny Investors will be the lead manager, the bookrunner and placement agent, and Dom Inwestycyjny BRE Banku, Biuro Maklerskie Alior Bank, Dom Maklerski KBC Securities Oddzia³ w Polsce will be co-lead managers.
This is the second Poland bond issue carried out by Warimpex. The first was a €10 mln convertible bond issue in 2011. Warimpex told PropertyEU it intends to use bonds in future as a financing tool.
