Chicago, March 23 – Russia-focused Eastern Property Holdings Ltd. issued €204.7 million of 3˝% subordinated notes to its two largest shareholders, according to a notice.
The notes are expected to be repaid on March 23, 2023, if not previously redeemed.
The issuer may redeem the notes at any time on or after March 15 in whole at par plus interest to the date of redemption.
Proceeds from the notes will be used for the acquisition of properties in western Europe in order to further strengthen the group’s business and follow its strategy to invest in premium-quality income-producing commercial property assets in Europe.
Eastern Property is a Swiss-listed, British Virgin Island-based real estate development and investment company focusing on Russia. It is managed by Valartis International Ltd., a wholly owned subsidiary of Valartis Group AG.
| Issuer: | Eastern Property Holdings Ltd.
|
| Amount: | €204.7 million
|
| Maturity: | March 23, 2023
|
| Description: | Subordinated notes
|
| Coupon: | 3˝%
|
| Call feature: | Any time after March 15 at par plus interest
|
| Announcement date: | March 23
|
| Distribution: | Private placement
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