Xetra/FWB: Subscription Launch For Grand City Properties S.A. Bond

Grand City Properties S.A. is planning to list a corporate bond in the Entry Standard of the Frankfurt Stock Exchange. The bond with the ISIN XS0951839991 can be subscribed from today until 19 July, subject to early termination of subscription. It has an issue volume of up to €100 million, runs until 3 June 2020 and has an interest rate of 6.25 percent. Its nominal denomination is €1,000.

Trading is planned to commence on 24 July 2013. The applicant is quirin bank AG and the specialist ICF Kursmakler AG.

According to company sources, Grand City Properties concentrates on residential properties in Germany, primarily in major metropolitan areas. Including recent acquisitions, the company's real estate portfolio comprises around 16,000 units with a rentable area of more than 1.1 million m². Grand City Properties had EBITDA of €122 million and net profit of €93 million in 2012. The company has been listed in the Entry Standard of the Frankfurt Stock Exchange since May 2012.