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Echo sells bonds

09 October 2017

POLAND Echo Investment has placed PLN 125 mln of F-series bonds.

“The quick conclusion of subscriptions shows the trust investors place in the company and its strategy. Investors find Echo Investment’s bonds to be stable and attractive and they are among the most liquid on the Catalyst market. We will use the funds acquired to finance our investment plan, which currently includes 70 projects under construction or at an early planning stage with over a million square metres of leasable and saleable space,” says Maciej Drozd, the vice-president responsible for finance at Echo Investment. The bonds are unsecured and are to mature in five years. They pay an interest every six months based on the WIBOR plus a margin of 2.9 pct. They are to start trading on the Catalyst market in October. With this latest tranche, Echo has placed PLN 225 mln out of a PLN 300 mln bond programme.

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