Grand City Properties S.A., : Securities prospectus for bond issue approved; subscription period starting tomorrow
09.07.2013
Grand City Properties S.A., / Key word(s): Bond
09.07.2013 15:22
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Grand City Properties: Securities prospectus for bond issue approved;
subscription period starting tomorrow
- Issue amount of up to EUR 100 million
- Coupon of 6.25% p.a., term of 7 years
- Subscription period from July 10 to probably July 19, 2013
Luxemburg / Berlin, July 9, 2013 - The securities prospectus for the bond
issue of Grand City Properties S.A., a specialist for residential
properties with high value creation potential in urban growth regions, has
today been approved by the Luxembourg Financial Supervisory Authority (CSSF
- Commission de Surveillance du Secteur Financier). Notification to the
German Financial Supervisory Authority (BaFin) and the Austrian Financial
Supervisory Authority (FMA) has also been applied for today.
The securities prospectus is available for free downloading from the
websites of Grand City Properties S.A. (www.grandcityproperties.com/bond)
and the Luxembourg Stock Exchange (www.bourse.lu) as well as in printed
form at the headquarters of Grand City Properties S.A.
The secured corporate bond (WKN A1HNBM) carries a coupon of 6.25% p.a. and
has a term of 7 years. It will mature on June 3, 2020, with interest paid
semi-annually. Rated BB- (stable outlook) by Standard & Poors, the bond is
scheduled for listing in the Entry Standard for corporate bonds of the
Frankfurt Stock Exchange. It will be available for subscription through
banks and online brokers at the Frankfurt Stock Exchange starting July 10
until probably July 19 at a nominal amount of EUR 1,000. Subscriptions from
institutional investors should be placed with Lead Manager and Bookrunner
quirin bank AG. The company intends to invest the bulk of the proceeds from
the bond issue in the acquisition of new residential properties.
Key data of the bond
Subscription period: July 10 - 19, 2013, subject to early closing
Issue amount: Up to EUR 100,000,000
WKN / ISIN: A1HNBM / XS0951839991
Coupon: 6.25%
Term: 7 years, due on June 3, 2020
Collateral (e.g.):
- First-ranking pledges of all shares held by the issuer
in its subsidiary, Grandcity Property Ltd.
- Assignment of the repayment claims and the rights under the loans granted
by the issuer to Grandcity Property Ltd.
- First-ranking pledges of all bank accounts of the issuer and its
subsidiary, Grandcity Property Ltd.
Interest payment: Semi-annually, on December 3 and June 3
Issue price: 100%
Company/bond rating: [BB-] stable outlook (Standard & Poors)
Denomination: EUR 1,000
Security type: Registered bond
Stock market segment: Entry Standard, Frankfurt Stock Exchange
About Grand City Properties
Grand City Properties (Entry Standard; ISIN: LU0775917882) focuses on
investing in residential property in Germany, especially in large urban
high-density areas. The Company follows primarily a buy and hold strategy.
Efficient management tools enable sustainable and targeted management of
real estate. The company valorize the objects through targeted
modernization and runs an intensive tenant management. The company's
portfolio comprises some 16,000 residential units including signed pipeline
deals with lettable space in excess of 1.1 million square metres. In 2012,
Grand City Properties has posted an EBITDA of 122 million euros and a net
profit of 93 million euros. Since May 2012, Grand City Properties is listed
on the Frankfurt Stock Exchange in the stock market segment Entry Standard.
Further information: www.grandcityproperties.com
Contact:
Kathrin Behlau
Grand City Properties S.A.
T: +49 (30) 887088183
E: [email protected]
www.grandcityproperties.com
Disclaimer
This press release does not constitute an offer to sell or an invitation to
make a bid for the purchase or subscription of bonds of Grand City
Properties S.A. The offer of bonds of Grand City Properties S.A. must be
made exclusively on the basis of the securities prospectus approved by the
Luxembourg Financial Supervisory Authority (CSSF), which has been published
at www.grandcityproperties.com/anleihe. This press release does not
constitute an offer to sell securities in the United States of America,
Canada, Australia, Japan or other jurisdictions in which an offer is
subject to statutory restrictions. The securities mentioned in this press
release may not be offered or sold in the United States or to US persons
(as defined in Regulation S under the Securities Act of 1933 as amended
from time to time (the 'Securities Act')) unless they have previously been
registered or, if they have not previously been registered, only based on
an exceptional regulation. Subject to certain exceptions pursuant to the
Securities Act, the securities mentioned in this press release may not be
offered or sold in Australia, Canada or Japan or to, or for the account of,
Australian, Canadian or Japanese residents. The offer or the sale of the
securities mentioned in this press release will not be registered in
Canada, Australia and Japan in accordance with the respective legal
provisions in these countries. It is not intended to make a public offer of
securities in the United States.
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