ORCO PROPERTY GROUP – Announcement of Major Acquisition, Notification of Prepayment of “New Notes”, ISIN XS0820547742

information fournie par Boursorama •14/11/2014 à 09:57

ORCO PROPERTY GROUP – Announcement of Major Acquisition, Notification of Prepayment of “New Notes”, ISIN XS0820547742

Luxembourg, 13 November 2014

ORCO PROPERTY GROUP (the “Company”) announces completion of an acquisition in line with its new strategy. The Company acquired four development projects located in Prague and Central Bohemia, Czech Republic. In a portfolio transaction, which was structured as an acquisition of shares, the Company acquired in aggregate approximately 186 thousand square meters of developable land, primarily in Prague, Czech Republic. These future projects, developable in the coming years, will be a mix of residential, office, hospitality and retail premises. Together with its core asset Bubny, the new projects are a solid base for the Company’s future development business. The transaction value is EUR 44 million.
The Company further announces that it will proceed with “Mandatory Prepayment on Zlota Disposal” under the terms and conditions of the notes registered under ISIN code XS0820547742, issued by Company on 4 October 2012, as amended and restated on 7 November 2014. The prepayment is in the amount of EUR 12,757,697.52 and is expected to be made by the Company to the Paying Agent on 14 November 2014. The prepayment will decrease the current outstanding principal of the notes from EUR 80,047,775 to EUR 67,290,077.48.

For more information visit www.orcogroup.com