News Article bonds Cavatina Holding financing investment office Poland residential
by Property Forum | Investment

Cavatina Holding S.A. has placed in the public offering 3.5-year bonds with a value of over PLN 40 million. Debt securities of one of the largest developers of office space in Poland will go to approx. 560 investors.

The large group of individual investors that took part in the offer is a confirmation for us that the activities of the Cavatina Holding group and its development plans are closely watched by more and more people. The conducted issue is the next stage of diversifying the sources of financing that we use to achieve the strategic goal, i.e. reaching 1 million sqm portfolio in 2025," says Daniel Draga, Vice President of the Management Board of Cavatina Holding S.A.

Cavatina Holding S.A. offered, as part of the P2022A series, bonds with a nominal value of PLN 1,000 and an interest rate based on WIBOR 6M increased by a margin of 6%. The coupon will be paid out every six months. The allotment of bonds is planned on March 8, 2022, and on March 11, 2022, the bonds are to debut on the Catalyst market, where the bonds of the company E and E1 are already listed. It was the first issue of Cavatina Holding as part of a bond program based on a prospectus approved by the Polish Financial Supervision Authority and allowing the issuance of bonds with a total value of up to PLN 200 million. Michael/Ström Dom Maklerski was the issuer of the issue.

Despite the increased uncertainty on the market related to the events in Eastern Europe, which has discouraged a large group of investors, we are very pleased with the results of the first prospect issue of Cavatina Holding bonds. Throughout the registration period, we observed a great interest in the offer," points out Paweł Gosz, Partner at Michael / Ström Dom Maklerski.

Cavatina Holding S.A. is one of the largest Polish office developers listed on the Warsaw Stock Exchange. The company continues the process of diversifying sources of financing, aimed at supporting the implementation of the strategic goal of the Group, i.e. reaching 1 million sqm of the investment portfolio in 2025. In addition to the bond program up to PLN 200 million established in September, under which the current issue was carried out, in December 2021 the company established a new, prospectless bond issue program up to the amount of PLN 200 million, which can be offered to selected investors qualified.