Sale of three assets in Romania cancelled

The parties of the transaction consider the binding agreement as not being in force anymore and not producing any legal effects towards its signatory parties.

Each of the three centers comprises between 10,000 and 14,000 sq m of net rentable area. They are located inBuzau,Piatra Neamtand Suceava which are second-tier and third-tier cities inRomania.

GTC put these properties for sale and decided to focus only on large scale shopping centers due to the change in market conditions, relatively high operational costs for smaller assets, and their different tenant mix, which lack synergies with the larger retail assets of the Group.

University Business Park fills up with tenants

„Office space of the higest quality, and possibility of securing additional area for the future, these are the key advantages of University Business Park. We are very glad about the fact that our building attracts renowned companies which appreciate the potential of the city of Łódź,” – says Jacek Wachowicz, Member of the Board and Director of Lease and Sales at GTC.

The list of the new tenants includes Mobica, a software development and integration services company, which specializes in mobile solutions used by the world’s biggest telecommunications providers. Mobica has leased nearly 1,200 sq m of office space with further extension option, and it will move into the building in May.

Samsung Electronics Poland, a leading provider of advanced technologies for corporate and individual users, will move into University Business Park in February. The company has leased 1,100 sq m of office space with further extension option.

PKP Informatyka is another new tenant at University Business Park. It is a company of PKP Group responsible for supplying Polish railroad operators with IT technology. The new tenant has leased nearly 900 sq m of office space which will be used by its regional headquarters. The company will move into the building in April.

 Thus three new tenants have joined the group of companies including: Citibank, Hewlett-Packard, Warta Insurance Group, Intergraph, Kredyt Bank, Hermann Kirchner, Bankruptcy Management Solutions, Tax Care and Pharmena.

About University Business Park

University Business Park is located adjacent to the campus of the Technical University of Łódź, between al. Kościuszki and ul. Wólczańska. The first completed building offers 19,300 sq m of Class A office space and 300 parking places. The University Business Park building has seven floors, with a typical floor area of 2,700 sq m.

University Business Park holds a certificate of the prestigious EU GreenBuilding programme. The complex is equipped with suspended ceilings, tilt windows with shutters, state-of-the-art HVAC and telecommunications systems, backup power source and full access control. This makes it possible to arrange the office space freely for back-office operations or for research or laboratory use by companies from the BPO sector, which make up a significant percentage of potential investors in the Łódź area.

GTC lists new bonds on Catalyst

Globe Trade Centre S.A. (GTC) issued new bonds in exchange for existing ones at the end of October and in early December of 2012. The action enabled the maturity of over EUR 70m of existing bonds to be prolonged, and helped to improve the balance sheet and increase the financial liquidity of the Company. January 4 has been designated as the first day of trading for the first portion of the new bonds (2,058 of bonds in the total nominal value of PLN 205.8m) that are being introduced on Catalyst.

The bondholders of new bonds are selected institutional investors who had hold the bonds issued by GTC in 2007 and 2008.

The new bonds will be amortized over 2017 and 2018 in 3 equal tranches with the final maturity 30 April 2018. The interest on the new bonds is based on the 6M WIBOR and a 4% p.a. margin set forth in the terms and conditions of the bonds.

GTC plans to list another portion of new bonds (in the total nominal value of PLN 88.4m) on Catalyst by the end of January 2013