Ghelamco to issue bonds worth PLN 50 mln

Real estate developer Ghelamco will start trading 500,000 bonds on May 28. The price of a share stands at PLN 100, the company informed. "The total nominal value of PPB series bonds will stand at no more than PLN 50 million," a market filing read. The bonds are offered for institutional and retail investors. The bonds have a floating interest rate that will be determined based on the WIBOR 6M interest rate plus a fixed margin rate at 4 percent. Ghelamco Invest is one of the biggest real estate developers in the Polish  market. It has delivered such projects as Senator or T-Mobile Office Park in Warsaw and is currently developing Warsaw Spire.