DGAP-News: CPI PROPERTY GROUP - Optimization of Capital Structure via Acquisition of Group Bonds

CPI PROPERTY GROUP
(société anonyme)
40, rue de la Vallée
L-2661 Luxembourg
R.C.S. Luxembourg: B 102 254

PRESS RELEASE
Luxembourg, 2 August 2018
 

CPI PROPERTY GROUP - Optimization of Capital Structure via Acquisition of Group Bonds

CPI PROPERTY GROUP (the "Company") announces that its subsidiary ORCO PROPERTY GROUP successfully acquired approximately CZK 2 billion of bonds issued by CPI BYTY, a.s. The acquired bonds, issued under the bond programme of CPI BYTY, a.s., are listed on the Prague Stock Exchange and are due (or callable) in May 2019. CPI BYTY, a.s. and ORCO PROPERTY GROUP both belong under the consolidation of the Company.

This successful acquisition is in line with Company's group strategy aimed at the optimization of its capital structure, improvements of group's debt profile, lowering costs of funding, and overall proactive approach to debt capital markets. In 2017, the Company successfully established the Euro Medium Term Note (EMTN) programe, under which it issued EUR 825 million of senior unsecured notes. In May 2018, the Company issued EUR 550 million of undated subordinated "hybrid" notes under its EMTN programme. The Company was the first corporate issuer from the CEE region to complete such a transaction.
 

For further information please contact:

INVESTORS

CPI PROPERTY GROUP
David Greenbaum
Chief Financial Officer
d.greenbaum@cpipg.com

MEDIA/PR

Kirchhoff Consult AG
Andreas Friedemann
Borselstraße 20
22765 Hamburg
T +49 40 60 91 86 50
F +49 40 60 91 86 60
E andreas.friedemann@kirchhoff.de