DGAP-News: Grand City Properties S.A. launches bond offering of up to EUR 100 million
(firmenpresse) - DGAP-News: Grand City Properties S.A., / Key word(s): Bond
Grand City Properties S.A. launches bond offering of up to EUR 100
million
27.05.2013 / 20:42
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THIS ANNOUNCEMENT IS NOT FOR PUBLICATION OR DISTRIBUTION, DIRECTLY OR
INDIRECTLY, IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA OR JAPAN OR ANY
OTHER JURISDICTION IN WHICH OFFERS OR SALES WOULD BE PROHIBITED BY
APPLICABLE LAW
Grand City Properties S.A. launches bond offering of up to EUR 100 million
Luxembourg, May 27, 2013 - The Board of Directors of Grand City Properties
S.A. (the 'Company') resolved today to launch the offering of
unsubordinated, senior secured straight bonds of up to EUR 100 million
maturing in June 2020 (the 'Series B Bonds'). By issuing the Series B
Bonds, the Company intends to benefit from the current favourable market
environment for the financing of the Company's future growth and at the
same time to further diversify the funding sources and its investor base.
The net offering proceeds of the issuance of the Series B Bonds shall
ensure the required financial flexibility and in particular be used for the
financing of the acquisition of further attractive property portfolios.
The Series Bonds will be issued and redeemed at 100% of their principal
amount and will be offered with an annual coupon of up to 6.25 %, through a
private placement by an investment bank solely to institutional investors
outside the United States of America, Canada, Australia and Japan. The
Series B Bonds will have a 7 year maturity. The Series B Bonds shall rank
equally with and shall be secured by the same assets as the Convertible
Bonds due 2017 (ISIN: XS0839410221), issued by the Company in October 2012.
The coupon of the Series B Bonds is expected to be determined via an
accelerated bookbuilding process to take place on May 28, 2013 and will be
published together with the final aggregate principal amount by separate
announcement.
The Series B Bonds are expected to be issued by the Company on or about
June 3, 2013. Settlement is also expected to take place on or about June 3,
2013. The Series B Bonds are intended to be listed on the Open Market
segment ('Freiverkehr') of the Frankfurt Stock Exchange after execution of
the transaction. The Company had already announced its principal intention
as to the offering of Series B Bonds with its announcement as of May 16,
2013.
About GRAND CITY PROPERTIES S.A.
Grand City Properties S.A. is a residential property investment company
based in Luxembourg which concentrates on residential investments in
Germany.
Forward-looking statements:
This news release may include forward-looking statements. Forward-looking
statements include, but are not limited to, statements concerning estimates
of expected capital expenditures and associated costs, statements relating
to estimates of, and increases in, rental income, cash flows and property
market values and other statements which are not historical facts. When
used in this document, the words such as 'could,' 'plan,' 'estimate',
'expect', 'intend', 'may', 'potential', 'should' and similar expressions
are forward-looking statements. Although Grand City Properties believes
that its expectations reflected in these forward-looking statements are
reasonable, such statements involve risks and uncertainties and no
assurancecan be given that actual results will be consistent with these
forward-looking statements. Important factors that could cause actual
results to differ from these forward-looking statements include the
potential that the Company's projects will experience problems due to
change in market conditions, that changes in rental prices can have a
material impact and that Grand City Properties fails to raise sufficient
capital to adequately fund its expansion activities.
Contact:
Grand City Properties S.A.
6, boulevard Pierre Dupong
L 1430 Luxemburg
www.grandcityproperties.com
THIS ANNOUNCEMENT IS NOT FOR DISTRIBUTION, DIRECTLY OR INDIRECTLY IN OR
INTO THE UNITED STATES (AS DEFINED IN REGULATION S UNDER THE US SECURITIES
ACT OF 1933, AS AMENDED (THE 'SECURITIES ACT')). THIS ANNOUNCEMENT IS NOT
AN OFFER TO SELL SECURITIES OR THE SOLICITATION OF ANY OFFER TO BUY
SECURITIES, NOR SHALL THERE BE ANY OFFER OF SECURITIES IN ANY JURISDICTION
IN WHICH SUCH OFFER OR SALE WOULD BE UNLAWFUL. THE SECURITIES MENTIONED IN
THIS ANNOUNCEMENT HAVE NOT BEEN AND WILL NOT BE REGISTERED IN THE UNITED
STATES UNDER THE SECURITIES ACT AND MAY NOT BE OFFERED OR SOLD IN THE
UNITED STATES ABSENT REGISTRATION OR EXEMPTION FROM REGISTRATION UNDER THE
SECURITIES ACT. THERE WILL BE NO PUBLIC OFFER OF THE SECURITIES IN THE
UNITED STATES.
THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER TO SELL OR THE SOLICITATION
OF AN OFFER TO BUY OR THE SOLICITATION OF AN OFFER TO BUY ANY BONDS.
THIS ANNOUNCEMENT IS DIRECTED AT AND IS ONLY BEING DISTRIBUTED IN THE
UNITED KINGDOM TO (I) PERSONS WHO HAVE PROFESSIONAL EXPERIENCE IN MATTERS
RELATING TO INVESTMENTS FALLING WITHIN ARTICLE 19(5) OF THE FINANCIAL
SERVICES AND MARKETS ACT 2000 (FINANCIAL PROMOTION) ORDER 2005 (THE
'ORDER'), (II) HIGH NET WORTH ENTITIES, AND OTHER PERSONS TO WHOM IT MAY
OTHERWISE LAWFULLY BE COMMUNICATED FALLING WITHIN ARTICLE 49 OF THE ORDER,
AND (III) PERSONS TO WHOM IT MAY OTHERWISE LAWFULLY BE COMMUNICATED (ALL
SUCH PERSONS TOGETHER BEING REFERRED TO AS 'RELEVANT PERSONS'). THIS
COMMUNICATION MUST NOT BE READ, ACTED ON OR RELIED ON BY PERSONS WHO ARE
NOT RELEVANT PERSONS. ANY INVESTMENT OR INVESTMENT ACTIVITY TO WHICH THIS
ANNOUNCEMENT RELATES IS AVAILABLE ONLY TO RELEVANT PERSONS AND WILL BE
ENGAGED IN ONLY WITH RELEVANT PERSONS. BY READING THIS ANNOUNCEMENT, THE
READER ACKNOWLEDGES THAT IT IS A PERSON EITHER (I) OUTSIDE THE UNITED
KINGDOM OR (II) FALLING WITHIN ONE OF THE FOREGOING CATEGORIES.
IN MEMBER STATES OF THE EUROPEAN ECONOMIC AREA ('EEA'), THIS ANNOUNCEMENT
AND ANY OFFER IF MADE SUBSEQUENTLY IS DIRECTED ONLY AT PERSONS WHO ARE
'QUALIFIED INVESTORS' WITHIN THE MEANING OF ARTICLE 2(1)(E) OF THE
DIRECTIVE 2003/71/EC (THE 'PROSPECTUS DIRECTIVE') ('QUALIFIED INVESTORS').
ANY PERSON IN THE EEA WHO ACQUIRES THE SECURITIES IN ANY OFFER (AN
'INVESTOR') OR TO WHOM ANY OFFER OF THE SECURITIES IS MADE WILL BE DEEMED
TO HAVE REPRESENTED AND AGREED THAT IT IS A QUALIFIED INVESTOR. ANY
INVESTOR WILL ALSO BE DEEMED TO HAVE REPRESENTED AND AGREED THAT ANY
SECURITIES ACQUIRED BY IT IN THE OFFER HAVE NOT BEEN ACQUIRED ON BEHALF OF
PERSONS IN THE EEA OTHER THAN QUALIFIED INVESTORS, NOR HAVE THE SECURITIES
BEEN ACQUIRED WITH A VIEW TO THEIR OFFER OR RESALE IN THE EEA TO PERSONS
WHERE THIS WOULD RESULT IN A REQUIREMENT FOR PUBLICATION BY THE COMPANY OF
A PROSPECTUS PURSUANT TO ARTICLE 3 OF THE PROSPECTUS DIRECTIVE.
End of Corporate News
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27.05.2013 Dissemination of a Corporate News, transmitted by DGAP - a
company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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Datum: 27.05.2013 - 20:42 Uhr
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