SymbiosyOrigameoMoreHubHubTalks
All Countries
Press Kit
All Countries

Copy as a Plain Text

News

HB Reavis announces CZK 1.25 billion bond issue on Czech market

Published

International real estate developer HB Reavis has announced the successful completion of its first unsecured CZK 1.25 billion (EUR 46.2 million) bond issue on the Czech capital market. This brings the total funds raised by HB Reavis through the Central European capital markets since November 2013 to almost EUR 150 million.

The latest issue was carried out by way of public offer which lasted until 14 April 2016, followed by a private offer to selected institutional investors after HB Reavis reported in its 2015 annual consolidated financial statements a 175% increase in consolidated net profit to EUR 245 million. The full amount of the issue including the increased element was subscribed. Over 71% of the bond issue was subscribed by institutional investors with the balance taken up by private banking clients.
The issue has been listed on the Prague Stock Exchange. The bonds have a floating annual coupon with a spread of 4% above 6M Pribor and mature in March 2021; after swapping the transaction into Euro, it corresponds to 4.86% total fixed interest rate. The unsecured bonds are backed with a HB Reavis Group guarantee and were issued by HB REAVIS Finance CZ s. r. o. The proceeds will be deployed to augment HB Reavis’ acquisition and development process.

Our debut on the Czech capital market was overwhelmingly successful, which again confirmed investors’ confidence in HB Reavis’ business strategy and financial standing. This issue reinforces HB Reavis’ position as an issuer of unsecured bonds in multiple markets

 said Marian Herman, CFO at HB Reavis.

The bond issue was managed by UniCredit Bank Czech Republic and Slovakia and Komerční banka (Societe Generale Group).

Despite that it was an inaugural bond of HB Reavis on the Czech capital market, robustness of its balance sheet and cash flow management in combination with thorough introduction of its business model were key attraction points for investors

said Martin Vinter, Director, Markets, UniCredit Bank.

Thanks to HB Reavis’ professional approach and its ability to coherently present investors the business case for the bond issue, the joint lead managers successfully placed the entire issue across a wide investor base

added Jan Pokorný, Executive Director, Structured Financing, Komerční banka.

Disclaimer:The public offering of HB Reavis bonds with ISIN CZ0003513608 has terminated. This press release does not constitute an offer for subscription or purchase of any securities of HB Reavis Group.inShare added Jan Pokorný, Executive Director, Structured Financing, Komerční banka.

Copy as a Plain Text

Share

Copyright HB Reavis Holding S.à r.l.
6, rue Jean Monnet, Luxembourg, 2180 Luxembourg
Registered in Luxembourg no. B156287

Whilst the Company has taken reasonable care to ensure that the information on this website (other than information accessed by hypertext link) is accurate at the time of last revision of the website, the Company accepts no liability for the accuracy or completeness or use of, nor any liability to update, the information contained on this website. It should not be construed as the giving of advice or the making of a recommendation and should not be relied on as the basis for any decision or action. In particular, actual results and developments may be materially different from any forecast, opinion or expectation expressed on this website. Certain information on this website is of a historical nature and may now be out of date. All historical information should be understood as speaking from the date of its first publication. Nothing on this website constitutes an invitation or offer to invest or deal in the securities of the Company. This website contains certain hypertext‑links to other websites. The Company has not reviewed, is not responsible for, and accepts no liability in respect of, any information or opinion contained on any such other website.