Victoria Dom hopes to raise PLN 50 mln with bond issue
14:50
Residential developer Victoria Dom has filed a prospectus with the Polish Financial Supervisory Authority (KNF) regarding its planned public offering of bonds valued at a total of PLN 50 million. “The aim of the offering is to strengthen the working capital and to secure financing for current development activity and the acquisition of new sites,” Waldemar Wasiluk, the vice president of the management board at Victoria Dom, said in a communiqué. He added that the planned bond issue would probably be carried out in at least two phases, with the sizes of the particular tranches and the issue dates to depend on the financial needs of the company.
Victoria Dom, whose bonds are traded on the Catalyst bond market, hopes that the KNF will approve the prospectus in the first quarter of next year. The developer is now selling apartments in a number of projects located in the Białołęka, Praga Południe, Targówek and Wola districts of Warsaw, and expects to offload a total of approximately 700 housing units this year.
