DGAP-News
Grand City Properties S.A. successfully places euro 600 million of notes due 2026 under the EMTN programme
DGAP-News: Grand City Properties S.A. / Key word(s): Bond/Real Estate NOT FOR DISTRIBUTION IN OR INTO OR TO ANY PERSON LOCATED OR RESIDENT IN THE UNITED STATES, ITS TERRITORIES AND POSSESSIONS (INCLUDING PUERTO RICO, THE U.S. VIRGIN ISLANDS, GUAM, AMERICAN SAMOA, WAKE ISLAND AND THE NORTHERN MARIANA ISLANDS), ANY STATE OF THE UNITED STATES OR THE DISTRICT OF COLUMBIA (THE "UNITED STATES") OR IN OR INTO OR TO ANY PERSON RESIDENT OR LOCATED IN ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO PUBLISH OR DISTRIBUTE THIS DOCUMENT. |
GRAND CITY PROPERTIES S.A. SUCCESSFULLY PLACES EURO 600 MILLION OF NOTES DUE 2026 UNDER THE EMTN PROGRAMME.
Luxembourg, July 25, 2017 - Grand City Properties S.A. (the "Company") announced today the successful placement of EUR 600,000,000 notes with 1.375% coupon, due 2026 (the Notes), at a subscription price of 96.82%.The new issue is under the EUR1,500,000,000 Euro Medium Term Note Programme.
The Notes will be admitted to trading on the regulated market of the Irish Stock Exchange.
Joint Bookrunners: BofA Merrill Lynch / Citi / J.P. Morgan and UBS Investment Bank
The Company intends to use the amount raised by the Notes to fund the purchase of its EUR500,000,000 2.00 per cent Notes due 2021 (ISIN XS1130507053) and to refinance and/or to repay existing debts.
About the Company
Grand City Properties is a specialist in residential real estate, value-add opportunities in densely populated areas in Germany. The Company's strategy is to improve its properties through targeted modernization and intensive tenant management, and then create value by subsequently raising occupancy and rental levels. Further information: www.grandcityproperties.com