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Matexi issues PLN 75 mln worth of bonds

Opr./edited TC 07 February 2020
Matexi issues PLN 75 mln worth of bonds
“The bond issue is the first of its kind for us,” says Matexi's financial director Zofia Szymońska

POLAND Matexi Polska has announced the issue of secured bonds worth a total of PLN 75 mln. The entire issue was acquired by a single bondholder from the PZU group.

The bonds have a four-year maturity period and they bear interest based on the WIBOR 6M (the six-monthly Warsaw Interbank Offered Rate) rate plus a margin. Through the issue, the Belgian-owned developer will gain access to flexible financing for the development of its portfolio of residential projects in Warsaw and Kraków. The group has announced that it has a long term sales target for the Polish market of 500–600 apartments a year.

“The bond issue that has been carried out is the first of its kind for Matexi Polska,” comments Zofia Szymońska, the financial director of Matexi Polska.

The sole organiser and issue agent is the Michael/Ström brokerage house. The issuer was advised by the Baker McKenzie Krzyżowski & Partners law firm, while the legal advisor of the investor was Clifford Chance, Janicka, Króżewski, Namiotkiewicz i Wspólnicy.

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