Globe Trade Centre’s Hungarian subsidiary, GTC Real Estate Development Hungary, has issued 792 senior unsecured ‘green bonds’ with a nominal value of HUF 50 mln each (app. EUR 140,000) and a total value of HUF 39.6 bln (app. EUR 110 mln).
The green bonds, which are to be fully guaranteed by GTC S.A., will have a ten-year term, with the final maturity date having been set for December 7th 2030. The bonds are to be amortised at 10 pct per annum starting from the seventh year.
The proceeds from the bond issue are to be used to finance and refinance acquisitions and the construction or refurbishment of buildings that meet recognised green building standards, such as BREEAM (‘Very Good’ or above) and LEED (‘Gold’ or above).
GTC is listed on the stock exchanges in Johannesburg and Warsaw (where it is listed on the mWIG40). The company manages a real estate portfolio of 45 commercial buildings with 716,000 sqm of office and retail space in Poland, Budapest, Bucharest, Belgrade, Zagreb and Sofia. It has a retail and office development pipeline of around 354,000 sqm, of which 66,000 sqm is currently under construction.
Source: Eurobuild CEE
