Finep to issue bonds worth CZK 252 million

Development group Finep will issue bonds worth CZK 252 million with the option of increasing to CZK 420 million. Bonds will be due in 2026 and the fixed income the company sets in March. The nominal value of one bond is CZK 3 million. according to Finep.

"The bonds will bear a fixed yield determined on the basis of market conditions before the issue date, which is expected in March 2021. The general manager, UniCredit Bank, will offer the bonds mainly to professional customers. CFO of Finep, Štěpán Havlas.

According to him, the company will issue bonds as book-entry securities in the Central Securities Depository. "After the approval of the prospectus, their admission to trading on the regulated market of the Prague Stock Exchange is expected," Havlas added.

Finep has been operating on the Czech market since 1995, gradually expanding its activities to Slovakia and Mongolia. About 60 percent of the business is occupied by the construction and sale of apartments in Prague, less than a fifth by the construction of offices in the capital. According to preliminary data, they sold approximatley 900 new flats in Prague last year, a third more year on year.

Source: CZK and FINEP