Marvipol Development will issue 3.5-year bonds with a total nominal value of PLN 50 million, the company said. Subscriptions in the public offering of bonds will be accepted from 12 to 25 January this year.
The interest rate on bonds, based on the WIBOR 6M rate increased by a margin of 4.5%, may amount to 7.4% in the first interest period, it was reported.
The funds obtained from investors are intended by the Marvipol Group to develop its activities in the residential and warehouse segments.
“Based on the potential of a carefully built land bank, we want to significantly increase the scale of development activity in 2022 by introducing projects with over 1.8 thousand sq m. residential and service premises. Our plan for 2022 also assumes increasing involvement in the warehouse market by investing in further development projects of this profile. In order to diversify the sources of financing for the group’s operations and at the same time to meet the market expectations, we decided to conduct a public bond issue, ”said President Mariusz Ksiażek, quoted in the statement.
The issue of bonds with a value of up to PLN 50 million is prepared on the basis of a prospectus approved by the Polish Financial Supervision Authority in November 2021.