Biggest office owner in RO lists EUR 550 mln bonds on local bourse

Real estate investor and developer Globalworth's corporate bonds were admitted to trading on the Bucharest Stock Exchange (BVB) on Monday, July 31. They are worth EUR 550 million, the highest bond issuance of this type on the local capital market. "Our main target is to invest, develop and identify new growth opportunities on the Romanian market, and corporate bond trading is a new step we are making in this direction, aiming to simplify the structure of our debt and reduce the average cost of debt,” said Globalworth deputy general manager Dimitris Raptis. The GWI22 corporate bonds are traded on the Bucharest Stock Exchange in euro at the nominal value of EUR 100,000. The settlement will be made in lei. Globalworth corporate bonds have also been admitted to trading on the Irish Stock Exchange. The European Bank for Reconstruction Development (EBRD) has invested EUR 50 million in the EUR 550 million bond issue launched by Globalworth. Bonds mature on June 20, 2022. They have fixed an annual interest rate of 2.875%, which is payable annually starting June 20, 2018. Globalworth is the biggest office owner in Romania, but the firm also owns several logistic properties and residential. The company’s overall portfolio was valued at EUR 983 million, at the end of March 2017. Globalworth issues bonds of EUR 550 mln for new investments in Romania, Poland editor@romania-insider.com