HB Reavis obligations reached 30 million euro

Office complex is being realized by HB Reavis at Postępu 14 Street in Warsaw
Office complex is being realized by HB Reavis at Postępu 14 Street in Warsaw
Five-year obligations, which were issued in Slovakia by HB Reavis partnership, have been closed at the amount of 30 million euro. Since November 2013, the partnership has obtained jointly 63 million euro on capital markets.

This transaction confirmed a good reputation and great results of HB Reavis as well as credibility of the company as an eminent. Undoubtedly, it also contributed to gain a strong position by HB Reavis on the Slovakian capital market – comments Iveta Komáčková Novákova, who manages the department of sales for financial markets in Československá obchodná banka.


Obligations were received with great interest of investors, and over double exceeding of a subscription’s limit allowed to decrease initial price guidelines till the final spread to the level of 370 base points above the swap rate. The emissions were distributed among insurers (subscription of 33 per cent of emission), banks (32 per cent), clients of private banking (19 per cent) and fund administrators (16 per cent).


After successive last year’s entrance to capital indebted markets in Poland, a carried out transaction proves that a chosen strategy of HB Reavis development enjoys a great trust of investors. The obligation’s emission enables us the further differentiation of funding source, simultaneously extending a debt’s maturity profile of the Group – says Peter Peter Pecnik, Head of Sector for Finance in HB Reavis.


Slovenská sporiteľňa (Erste Group) and Československá obchodná banka (KBC Group) companies were responsible for emission of obligations.


An effective emission of obligations proved that HB Reavis has an access not only to bank financing, but also to capital markets of debt instruments. It also allowed to create a base of investors for potentially next emissions. Simultaneously, it was proven that, regardless limited sizes and domestic market liquidity in Slovakia, debuting eminents may achieve great results in favorable circumstances, choosing properly an emission’s time as well as cooperating with banks, which have sufficiently large base of investors – thinks Tomáš Pavlák, director of Treasury Department in Slovenská sporiteľňa.


Currently, obligations emitted by HB Reavis are being introduced on the securities market in Bratislava and have a fixed coupon which totals 4,25 per cent annually. The term of their maturity expires in August 2019.


HB Reavis is an international developer group founded in 1993 in Bratislava, functioning on the Central and Eastern Europe markets (Poland, Czech Republic, Slovakia, Hungary) and in Great Britain and Turkey. The company realized 750 000 sq. m of office, shopping, entertainment and logistic space, and another 875 000 sq. m are in realization or preparatory processes.

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