Echo successfully finishes 2nd public bond issue programme worth PLN 300 mln

After one day investors declared their willingness to acquire all securities offered in another tranche of Echo Investment public bonds, which have a total value of PLN 75 mln. Consequently the Company utilized its entire Second Public Bond Issue Programme worth PLN 300 mln.

The bonds offered as part of the programme were not secured, they had profitability of 2.9%, over six-month WIBOR and their redemption period was 4 years (for the first tranche worth PLN 100 mln) and 5 years (for the remaining amount of PLN 200 mln). They were placed in June, September and October 2017. Every time the offer enjoyed a lot of interest among investors, subscriptions exceeded the number of bonds offered after one or two days.

“Over the last two years Echo Investment increased the speed of project execution and its scale of operations. We have 70 projects with a combined area of over 1 mln sqm under construction or preparation i.e. over twice as much as in H1 2015. We feel comfortable in terms of financing the construction of these projects. We have a low debt and good access to various forms of financing, including the trust of individual investors,” said Maciej Drozd, vice-president of Echo Investment who is responsible for financial issues.

Echo Investment’s public bonds will be placed on the Catalyst bond market. Company’s bonds listed are among the most liquid ones on the market.