Atal issues PLN 80 mln worth of bonds

Warsaw Stock Exchange-listed residential developer Atal has issued bonds valued at PLN 80 million, which will be traded on the Catalyst bond market and will mature on October 2, 2019. The company will earmark the funds raised through the issue for the acquisition of new sites and the financing of selected ongoing projects. Since the beginning of this year, Atal has already spent PLN 185 million on the purchase of land for future schemes, said vice president of the management board Mateusz Juroszek. The company will this year complete 23 developments across Poland. It hopes to sell a total of approximately 2,700-2,900 apartments in 2017.

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