Cordia Polska Announces 2nd Successful Bond Issue in Poland
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Cordia Polska Finance, a member of the Cordia Group, has completed its second bond issue on the Catalyst platform of the Warsaw Stock Exchange (WSE), according to a press release sent to the Budapest Business Journal.
The company placed bonds totaling PLN 120.4 million, with a maturity of 3.5 years and a variable interest rate.
“Thanks to the successful oversubscription, we were able to increase the planned issue amount of PLN 100 mln by more than PLN 20 mln. We will use the proceeds from the new issue to finance the further development of the company in Poland and to refinance the previous debt from our bond issue three years ago,” said Péter Bódis, vice-chairman of the management board of Cordia Polska and member of the management board and CFO of the Cordia Group.
“Since our first listing on the Catalyst platform in 2021, Poland has become one of the Cordia Group’s leading investment markets. We have residential projects in Warsaw, Kraków, Poznań and the Tricity (Gdańsk and Sopot), and we plan to expand our land bank in these cities. Later this year, we are planning to launch at least four more projects with a total of over 450 flats," said Tomasz Łapiński, president of the management board and managing director of Residential Investments Cordia Polska.
The new bonds are secured by a guarantee provided by the Hungarian owner, Cordia International SE.
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