GTC has prolonged the maturity date of bonds again

Globe Trade Centre has prolonged the maturity date of bonds again through emitting new bonds.

Maturity date of another tranche of bonds was prolonged by GTC company. Globe Trade Centre S.A. emitted bonds with a value of over EUR 21 million, which is a complement of earlier similar transaction with a value of EUR 50 million.

GTC prolonged the maturity date of bonds with a value of over EUR 70 million together, which is connected with coopartnership's plan concerning a liquidity and balance sheet. Company offered prolonging of maturity date of bonds emitted in 2007 through remitting them and purchase of new ones to some institutional investors. GTC emitted 884 bonds on a bearer with a total nominal value of PLN 88,4 million. This action was based on agreement of bondholders. Bonds will be subjected to a partial buyout in equal tranches in 2017-2018. The final buyout is planned at the end of April 2018.

Interest from emitted bonds are payable in half year terms on the base of WIBOR rate for 6-months deposits and margin with 4% annually.

Additionally, coopartnership purchased and remitted 354 bonds with a value of about EUR 8 million. Price of purchase amounted to 96,48% of nominal value. Coopartnership is planning to implement new bonds to alternative trade system until the end of January 2013.

Globe Trade Centre S.A. is one of the biggest developers running on the area of Poland, Hungary, Czech Republic, Romania, Serbia, Croatia, Bulgaria, Russia, Slovakia and Ukraine. GTC was established in Warsaw in 1994, execute and manage office properties, shopping centres and housing estates.

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