GTC confirms its strong market position with a successful bond issue

GTC announces that it has successfully executed a public bond offering with a total value of EUR 40 million. The securities were in high demand among both institutional clients and retail investors.

On 12 June GTC S.A. completed a EUR 40 million prospectus-exempt public offering of 3-year euro denominated bonds to be listed on Catalyst. EUR 33.5 million bonds were allocated to institutional clients, whereas EUR 6.5 million for individual investors.

In the last twelve months GTC has raised over EUR 100 million in the form of euro denominated bonds.

The high demand for GTC bonds confirms our position of being a well-recognized, reliable and experienced player in the real estate Industry. It shows strong vote of confidence in GTC’s strategy and growth prospects” – said Thomas Kurzmann, GTC’s CEO.

The  money raised  will beused to replace existing more expensive PLN bonds and  finance further acquisitions and developments of the GTC Group.

The transaction was managed by Ipopema Securities.

GTC’s shareholders take dividend in shares

GTC announces that it has paid dividend of 0.27 PLN per share. Eligible investors could subscribe for dividend in the form of shares. Twenty one funds holding 72% of GTC share capital have elected to receive shares and subscribed for 10,087,026 L series shares.

“I believe that it is a fantastic result, which shows that the market appreciates the financial results and supports our strategy and expansion plan as well as well perceives our dividend policy” – said Thomas Kurzmann, GTC’s CEO. “We expect a double digit dividend growth in the mid-term” – he added.