PASSERINVEST GROUP, a. s., the Czech Republic’s leading development and investment firm, has successfully underwritten a CZK 550 million corporate bond issue. The bond yield of 5.25% p.a. is paid to the investors quarterly and the bonds mature on 31 December 2017. The underwriting process was managed by UniCredit Bank Czech Republic and Slovakia, a.s.
The PASSERINVEST GROUP plans to use the proceeds from the bond issue primarily for purchasing investment real estate. The company has already completed its first acquisition based on this strategy, as, on 1 December 2014, it announced the purchase of the ALPHA office building in Prague’s BB Centrum.
“We greatly value the trust investors have in our business endeavours. It is our pleasure to allow our bond owners to invest in high-quality real estate in the unique BB Centrum location,” says Radim Passer, the Chair of the PASSERINVEST GROUP Board of Directors, in relation to the completion of the bond issue.
“This bond issue has allowed our company to successfully enter the debt capital market and has added a new interesting source of capital to our financing structure. We value the professional approach of our partner, UniCredit Bank, which, over the course of not even one full year, helped us to prepare the issue and place it on the market. We shall see how our activities continue to develop and may possibly consider another bond issue in the coming years,” according to Ondřej Plocek, one of the members of the PASSERINVEST GROUP Board of Directors, as he comments on the transaction.
‘The interest in this bond issue on the part of private clients greatly exceeded our expectations. It has confirmed that a company with a long-term strategy, a high-quality client portfolio, and a stable market position offers its clients not only added value, but, most importantly, great investment potential for the future,” says Raymond Kopka, UniCredit Bank’s Private Banking Manager for the Czech Republic and
For more information and print-quality photographs, please contact:
Mgr. Vendula Malochová, Marketing Manager
PASSERINVEST GROUP, a.s.
Tel.: (+420) 221 582 111, fax: (+420) 222 515 521
Mobile: (+420) 605 318 974
Ing. Marcela Štefcová
Crest Communications a.s.
Tel.: (+420) 222 927 125
Mobile: (+420) 731 613 669