Victoria Dom allocates bonds worth PLN 86.3 million

The issue was conducted in cooperation with Michael / Ström Dom Maklerski.

"The funds raised will feed working capital and will be used for the further dynamic development of our property development activities. We plan to purchase new land and to finance the implementation of further projects within the framework of our land bank, because of which we can build approximately 12,000 new flats," deputy CEO Waldemar Wasiluk, quoted in a press release, said.

"We see that demand in the primary market remains at a satisfactory level, despite the temporary slowdown caused by the continued restrictive monetary policy of Poland's central bank NBP, resulting in high mortgage costs. We count on the government to continue to support the development of housing in our country, enabling young buyers to purchase their first flat," he added.

In the following periods, the developer expects an increase in demand due to the expected decrease in interest rates and the increasing purchasing power of Poles.

It was reported that the interest rate on the allotted bonds is variable and will be set at six-month WIBOR (WIBOR 6M) plus a fixed margin of 4.80 percent.

Subject to the possibility of early redemption, the maturity date of the bonds has been set at December 11, 2027.

The developer emphasises that it has applied to introduce the bonds into the alternative trading system organised by the Warsaw Stock Exchange within the Catalyst market.

gaw/ nl/