Grand City Properties opts not to call 2.5% perpetuals

By Marisa Wong

Los Angeles, Sept. 15 – Grand City Properties SA announced it has decided it will not exercise its option to redeem its €350 million 2.5% undated subordinate notes with a first call date on Oct. 24, 2023 (ISIN: XS1811181566), according to a press release.

The company said the decision is based on prevailing market conditions.

The company does have the option to call the perpetuals in the future on interest payment dates going forward.

Grand City Properties is a Luxembourg-registered specialist real estate company focused on investing in and managing value-added opportunities in the real estate property market in Germany, primarily in densely populated areas.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.