Slovakian company CPI Finance, a member of CPI Property Group, announces new four-year bonds at 5% annual interest. Securities with a nominal value of €1,000 per share and a total of up to €50 million offered to investors by J&T Banka.
"We use low-interest rates and competitive financing of all opportunities to progressively cut costs to finance our activities," says Martin Němeček, CEO of CPI Property Group. The issuance of new bonds arriving on the market at a time when CPI Property Group is precipitately in repayment of bonds issued in 2012 amounting to €58 million and is expected to accordingly offset bonds worth CZK 1.5 billion." The purchase of bonds worth €100 million and the optimisation of debt service to us in the past year has allowed the company to refinance loans worth approximately €300 million with lower margins, which will be confidently reflected in the financial results for 2015 and in the coming years," said Němeček.
CPI Property Group invests in a diversified portfolio of properties in ten European countries. The Group is the proprietor of retail, office and residential buildings, shopping centres, logistics parks and hotel chains."Over the past five years of collaboration with J&T Bank, CPIPG has become an undeniable forerunner in the Central European market with assets of €4.4 billion and a shareholders' equity of €1.75 billion," says Daniel Drahotský, Director, Financial Markets Division J&T banks.
The interest payment on the new bonds maturing in February 2020 will be every six months, on February 26th and August 26th. The bonds will be traded on the Bratislava Stock Exchange and are obtained by investors via J&T Bank and other selected securities dealers. Issuance arranged by J&T IB & Capital Markets. Legal advice was provided by Allen & Overy.
