Bonds of Ghelamco are sold like hot cakes

Warsaw Spire - night visualization
Warsaw Spire - night visualization
The whole pool of corporate bonds of Ghelamco have been purchased after only 4 days since the registration had started. The developer will start the registration for other securities in June.

The whole pool of corporate bonds of the PPB line owned by Ghelamco, which were aimed at individual investors, have been purchased after 4 days. The registration for securities of the value of 50 million zlotys was supposed to last till 16th June, however, it was ended on 3th June. At present, Ghelamco is starting another issue. From 16th June to 23th June 2015, all individual investors may register for 4-year bonds of Ghelamco Invest with the total nominal value of 30 million zlotys. The developer's offer includes 300 000 bonds of the PPC line with the nominal value of 100 zlotys per each and issue price depending on the day of a placed subscription. The purchase of bonds was secured with a guarantee of Granbero Holding Limited – the only shareholder of all project partnerships of Ghelamco Group on the area of Poland. The registration will probably be conducted by the same distribution network as the PPB line which was sold in record time as for corporate bonds issued by a developer.


The entering on the market with the new issue of the PPB line turned out to be a very good decision at the moment and on these terms. The recent commercial successes of the group and suggested conditions by our company interested the individual investors so as the registration has ended earlier and additionally – we will also have its reduction – comments Jarosław Jukiel, Financial Director and Member of the Board in Ghelamco Poland. – At present, it is huge success considering high supply and diversity of offered securities on the bond market. We want to use objective attractiveness of the offer suggested by our company. Moreover, we want to give an opportunity of participation in issue of the PPC line in the amount of not higher than 30 million zlotys to those investors who did not manage to register for the PPB line bonds or their registrations were reduced. The new issue will be conducted on the same conditions as the PPB line, the registration of which was closed before a planned date. All means from the issue will allow us to obtain financing for our new investments – says Jarosław Jukiel.    


At present, Ghelamco Poland is engaged in realization and commercialization of its major project – Warsaw Spire. The largest office complex, which is currently being built in Europe, will be realized in the neighborhood of Rondo Daszyńskiego and it will offer 100 000 sq. m of office area class A. The complex is rented in 60 per cent a year before planned commission, mainly thanks to transactions concluded in the first months of 2015 when the company found tenants for 35 000 sq. m of area. 


The other investment of Ghelamco, which is currently being realized in Warsaw, is Wołoska 24 in the Mokotów district. This office will deliver 21 300 sq. m. Furthermore, the works on realization of the office building at Wronia Street (17 000 sq. m) and Sienna Towers with the total area of nearly 100 000 sq. m will start in 2015. The portfolio of planned investments will include i.a. development of areas of Warszawa Gdańska railway station in cooperation with Xcity. According to taken measures, Ghelamco will deliver over 300 000 sq. m on the office property market in the nearest years.


In the previous two years, the company found purchasers for five of its projects. In 2014, Ghelamco sold three realized and commercialized designs for the price of 189 million euro: Katowice Business Point, T-Mobile Office Park and Łopuszańska Business Park whereas a one year ealier – two office projects located in Warsaw: Senator and Mokotów Nova were sold for 232 million euro.


Tags: Ghelamco
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