Clifford Chance has advised Ipopema Securities on the establishment of an up to PLN 500 million bond issuance program for Echo Investment and Echo's first PLN 180 million issuance of bonds under the program.
Ipopema Securities is a Poland-based company specializing in investment banking services.
Echo Investment is a Polish real estate company.
According to Clifford Chance, “the company placed the inaugural issue of five-year bonds with a total value of PLN 180 million, under a new up to PLN 500 million bond issuance program. Their interest rate was determined based on the variable WIBOR 6-month rate increased by a margin for investors. As part of the program and in relation to the issue, Ipopema Securities acts as the organizer and exclusive dealer of the issue.”
“The money obtained from the bond issue will be used to redeem existing bonds maturing in 2024 and, consequently, to further finance business development. The bonds issued are not secured and will be introduced to trading in the alternative trading system of the Warsaw Stock Exchange,” the firm informed.
In 2020, Clifford Chance advised mBank on Echo Investment’s PLN 150 million bond issuance (as reported by CEE Legal Matters on July 13, 2020).
Clifford Chance’s team included Partner Milosz Golab and Lawyer Zuzanna Bartczak.
