Euros

Subscription launch of GEWA 5 to 1 project bond on Frankfurt Stock Exchange

Tue, 18/03/2014 - 06:02

GEWA 5 to 1 GmbH & Co KG, a project company in the GEWA Group, is issuing a project bond in the Entry Standard of the Frankfurt Stock Exchange.

The bond can be subscribed from today until 21 March, subject to early termination of subscription.
 
It has an issue volume of up to EUR35m, runs until March 2018 and has a coupon rate of 6.5 per cent. Its nominal denomination is EUR1,000. If less than EUR30m are placed during the subscription period, the bond will not materialise.
 
Trading is planned to commence on 24 March 2014. The applicant and specialist is equinet Bank AG.
 
The GEWA Group is a solution provider for special-purpose and niche properties. In addition to property management, the group has also been developing new properties since 2000, which are rented by Daimler, the Stuttgart students' union, the Plus and Rewe supermarket chains, APCOA and other companies.
 
The funds from the project bond are to be used for construction of the GEWA Tower, which according to GEWA will be the third-tallest residential building in Germany.


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