CPI sells bonds in Japan

CPI sells bonds in Japan

Published at: 2018-12-12 08:53 | Author: CIJEurope.com
Novinky.cz reports that CPI Property Grouphas sold CZK 2.2bn worth of bonds in Japan, making it the first European real estate market to emit such securities on that market. "The transaction represents an historic milestone not just for our group but for the Japanese bond market," said director Martin Němeček. "We're also the first foreign real estate company that's received an investment rating from the top Japanese rating agency Japan Credit Rating Agency (JCR)." The offering has two parts: 8 billion jen with a 1.414 percent interest rate that's due for redemption in 2021 and another 3 million jen tranche (1.995 percent) that's due in December 2028. "The Japanese market will contribute to the diversification of financing sources for our group," said CPI's CFO David Greenbaum. The company plans to pay off bank loans with money made from the sale of the bonds after converting them into euro.

Similar Stories:

Serbian bank lending volume rises 7.7%
Lending volumes continued to grow in the third quarter of 2018 thanks to strong economic g  »
Czech Central bank leaves rate hikes until February
At its regularly schedule meeting yesterday, the Czech National Bank passed up the chance  »
Hungary’s OTP Bank to buy Societe Generale in Serbia
Hungary’s OTP Bank is poised to buy Societe Generale’s Serbian unit. The price of he i  »
Czech bank producing record profits in 2018
The Czech National Bank writes that Czech banks have had a record year, producing profits  »
The future is not out of our hands. Indeed, the main purpose of organised real estate is t   »
Lower prices means lower costs for manufacturers and carriers, and thus reduced product pr   »
The most important thing is client understanding. Quite simply, clients need a much greate   »