The public offer of Premia Properties for the issuance of a joint bond loan, totaling up to 100,000,000 euros, lasting five years, divided into up to 100,000 intangible, common, anonymous bonds with a nominal value of 1,000 euros each, starts today and ends on Friday, January 21st. The yield range is 2.70% – 3.10%.
The total funds raised, in case of full coverage of the Issue, will amount to 100 million euros with the issuance costs being up to 3.5 million euros (including VAT) and will be deducted from the total raised capital.
Therefore, the net capital that the company will receive, in case of full coverage of the Issue, will amount to 96.5 million euros.
An amount of 39.6 million euros (including interest, expenses and other charges) will be allocated, within 120 days from the Date of Issue, once or in stages, for the full repayment of the Issuer’s loan from 11.12.2020, outstanding accounting balance of approximately 39 , 3 million on 04.01.2022.
An amount of 53.9 million euros will be allocated within 24 months for investments in real estate (either additions / improvements / renovations to existing properties, or investments in developing and new properties, and any additions / improvements on them), rights, shares or shares in real estate, in accordance with the investment strategy of the Company, including the payment of loan obligations that may exist and are associated with such investments at the time of their completion, while an amount of 3 million euros will be available within 24 months to cover financial needs of the Group in working capital.
Source From: Capital