PHN buys back bonds for nearly PLN 700 million

Eleven SPVs of real estate group Polski Holding Nieruchomości have bought back some of their registered bonds before maturity, worth a total of PLN 686.8 million. The bonds have been acquired by another subsidiary of the group - PHN 3. The partial buyback was financed by PHN 3 via a capital increase in the eleven SPVs. PHN is a holding company. The group includes companies like Warszawski Holding Nieruchomości, Agroman, Intraco, Budexpo, Dalmor and Wrocławskie Centrum Prasowe. PHN debuted on the Warsaw Stock Exchange in February 2013.