Echo Investment is launching a new bond series for individual investors. The developer will issue the securities for a total of PLN 50 mln.

The interest rate on I-series bonds is established based on the WIBOR 6M rate increased by a 3.4% margin. The sale starts on October 11 and is scheduled to October 19, 2018. The transaction is performed by Dom Maklerski PKO BP as a leader of a consortium with Noble Securities S.A. and Centralny Dom Maklerski Pekao S.A. The funds obtained from the bond issue is planned to be used by Echo Investment to finance its business development. The Company has currently over 1.1 mln sqm of office, residential as well as retail and entertainment space under construction and in preparation. „One of the most important investment projects we have started this year is Resi4Rent, the first institutional apartment rental platform in Poland. The platform has just taken over four investment projects with 1,200 apartments under construction and will take over another 1,700 premises in the near future. In 3-5 years, it will gather 5-7 thousand apartments and will be the strongest and largest entity of institutional lease in Poland. We believe that there is a bright future ahead of professional rental of apartments in Poland, taking into account the experience of developed countries, as well as new habits and needs of Poles” says Nicklas Lindberg, CEO of Echo Investment. Echo Investment's bonds are among the most liquid on the Catalyst market. The company has been issuing bonds for individual investors since 2014. So far, PLN 550 mln securities for individual investors have been issued, of which PLN 350 mln is still traded on the stock exchange, and the other PLN 200 mln have been properly redeemed. The Company has also an impressive track-record of cooperation with financial institutions which as of now hold Echo"s bonds of PLN 716 mln in nominal value. In April 2018, the Financial Supervision Authority approved the Prospectus of bonds for individual investors, on the basis of which Echo in several days placed bonds worth PLN 50 mln in May. The current I-series bonds will be a second tranche offered under the Prospectus. ”Echo Investment Group generated a net profit of PLN 126 mln in the first half of 2018. We constantly cooperate with the largest banks and financial institutions, and our debt ratio to the value of assets is very safe and as at 30 June 2018 amounts to 29%. It is a good starting point for future development and further strengthening of the Group” says Maciej Drozd, Vice-president of Echo Investment responsible for finance. The Prospectus along with annexes and update announcements prepared in connection with the public bond offering is only legally binding document containing information about Echo Investment and the public bond offering in Poland and was published on the website of Echo Investment (www.echo.com.pl), and additionally, for information purposes only, on the website of the offering party i.e. Powszechna Kasa Oszczędności Bank Polski Spółka Akcyjna, Branch - Dom Maklerski PKO Bank Polski in Warsaw (www.dm.pkobp.pl).