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:

Heta to exit Bosnia this year
Bosnia & Herzegovina  ♦  Heta to exit Bosnia this year
Heta Asset Resolution, the “bad bank” of Austria’s dissolved Hypo Alpe Adria, is pul  »
AIK acquires controlling stake in Gorenjska Banka
AIK Bank increased its stake in Gorenjska Banka and now holds a controlling 90.11 percent.  »
ASB Group appoints Petr Kopecký new Head of Czech Payroll Team
ASB Group has appointed Petr Kopecký as the head of its Czech Payroll Team, which he will  »
MLP Group reports net profit of nearly PLN 100m in 2018
MLP Group generated PLN 141.5m in revenue in 2018, up 36.3 percent from the previous year.  »
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   »