Globalworth Real Estate Investment has successfully priced a €550 million Eurobond. The five-year euro-denominated bond matures on 20 June 2022 and carries a fixed interest rate of 2.875 per cent payable annually beginning on 20 June 2018. The company has applied for the bond to be traded on the Irish Stock Exchange.
Dimitris Raptis, Deputy CEO and Chief Investment Officer commented: "We are delighted by the strong interest shown from international investors in our inaugural Eurobond transaction and a landmark bond issue for a real estate investment company active in the broader CEE region. With this transaction we are greatly simplifying our debt capital structure, significantly reducing our average cost of debt and further increasing our war chest for the next phase of our growth in Romania and the broader CEE region, predominantly in Poland."
The net proceeds from the offering will be used to repay certain of the company's indebtedness and for general corporate purposes. The bond has been rated BB+/Stable by Standard & Poor's and Ba2/Stable by Moody's.
