June 28 (SeeNews) - The European Bank for Reconstruction and Development (EBRD) said on Wednesday it has invested 50 million euro ($56 million) in a 650 million euro bond issued by London Stock Exchange-listed Globalworth, a real estate investment company targeting opportunities in Romania.
Globalworth has issued bonds to consolidate its funding sources and pursue expansion plans in and outside Romania, the bank said in a press release.
This is the largest publicly traded bond issued by Globalworth, the first corporate Eurobond to be dually listed on the Irish Stock Exchange and the Bucharest Stock Exchange. Also, it is the first Romanian corporate bond to reach a benchmark size of at least 500 million euro that would facilitate the bond’s inclusion in global indices, attracting more liquidity and visibility.
"Globalworth sets an example of how local companies seeking finance can tap into debt capital markets. We are also pleased with Globalworth’s commitment to building a green and more environmentally friendly portfolio," EBRD director, regional head for Romania and Bulgaria Matteo Patrone said.
Globalworth currently holds nine properties – most of its portfolio – that have received internationally accredited green certification and is committed to expanding the green certification across its entire portfolio.
"In terms of priorities, we will focus on further consolidating our leading position in Romania and pursuing a sustained strategy for expanding our real-estate investments in other CEE countries, with a main focus on Poland," deputy CEO and chief investment officer at Globalworth Dimitris Raptis said.
Globalworth is the largest office-property owner and developer in Romania, investing in a diversified portfolio of properties located primarily in Romania, but also in the broader south-eastern European (SEE) region and in central and eastern Europe (CEE). Its shares are listed on the Alternative Investment Market (AIM), the London Stock Exchange’s international market for growing companies.
The EBRD is a leading institutional investor in Romania and developing Romania’s capital markets is among its priorities. The bank has invested close to 7.5 billion euro in the country to date in almost 400 projects.
($= 0.8881 euro)