As a result of a strong investor interest, the management board of Warsaw Stock Exchange-listed residential developer Atal has adopted an updated bond issue program, which now calls for the issuance of bonds valued at up to PLN 80 million, rather than PLN 60 million as was originally planned. The company will earmark the funds raised through the upcoming bond issue for the purchase of plots of land for future projects and for the construction of selected schemes.
“Atal is a reliable entity in the corporate bonds market, hence the very strong interest in our offer. Investors appreciate our transparency and unique business model. We are a leader among Warsaw Stock Exchange-listed developers in terms of profitability – at the end of June this year, our gross margin on sales amounted to as much as 30.7%,” said company vice president Mateusz Juroszek.