Echo Investment’s public bonds offer was highly successful. Within few hours investors subscribed for all E-series bonds with a total value of PLN 100 million. The offer was heavily oversubscribed. This is why the subscription period has been shortened and the placed subscription will be proportionally reduced.

The securities issued have a four-year redemption period, a yield based on six-month WIBOR plus a margin of 2.9% and the interest on the bonds is to be paid semi-annually. They will be listed on the Catalyst market in July. Echo Investment"s bonds which are quoted there are among the most liquid ones on the market. “Echo Investment will use the acquired money to finance its development. Over the last year we significantly enhanced the speed of our operations. Projects which are currently under construction or preparation have a gross leasable area of 800,000 sqm i.e. over 70% more compared to the end of Q1 2016. Thanks to the bond issue we will be able to manage our financial liquidity more effectively while providing individual investors with the profitable option of investing theirs savings,” said Nicklas Lindberg, CEO of Echo Investment. “Quick closure of the subscription is a proof of trust we enjoy among investors, the attractiveness of the offer as well as Echo Investment"s stability. Our current bond issue programme enables us to issue additional bonds with a total value of PLN 200 million in the future. We are planning to place new tranches in accordance with the company"s demand for capital. Our activity regarding the purchase of new plots and development of new projects is currently very strong,” added Maciej Drozd, CFO at Echo Investment. In 2014, during the first public bond issue programme Echo Investment raised from retail investors PLN 200 million in four tranches. Each time the subscriptions lasted few days. The brokerage house of PKO Bank Polski was the bond issue agent at the time and now.