International Real Estate Plc
30 May 2007
International Real Estate Plc / Epic: IRE / Index: AIM / Sector: Property
30 May 2007
International Real Estate Plc ('IRE' or the 'Group')
Dual Listing of Bonds
International Real Estate Plc, the AIM traded European property investment and
development company, announces that the €32 million bonds, which recently listed
on the Corporate Bonds List of the OMX Stockholmsborsen AB in Stockholm as
announced on 22 May 2007, were yesterday (29 May 2007) dual-listed on the OMX
Copenhagen Stock Exchange in order to provide increased liquidity.
IRE Chairman Rolf L Nordstrom said, 'Following our success with listing the
bonds in Stockholm, parallel listing the bonds on the OMX Copenhagen Stock
Exchange offers further liquidity of the bonds. In essence, it improves the
pricing of the bonds, thereby making them more attractive to investors.'
The bonds are issued in two tranches and the average coupon is 8%:
• Senior Bond - €20,850,000 I.R.E. German Property Holding B.V. 7.7326% 1 March
2015
• Junior Bond - €11,150,000 I.R.E. German Property Holding B.V. 8.5000% 1 March
2015
Interest on the 8-year bonds will be paid annually in arrears and repayment is
in full at maturity. The bonds have a buyback option by the issuer as follows:
in year 1: 110%, in year 2: 108%, in year 3: 106%, in year 4: 104%, in year 5:
102%, thereafter: 100%.
Catella Corporate Finance in Denmark has acted as financial advisor to IRE in
connection with the bond issue.
* * ENDS * *
For further information please visit www.ireplc.com or contact:
Rolf L Nordstrom International Real Estate Plc Tel: +44 (0) 20 7495 1480
Daniel Akselson International Real Estate Plc Tel: +31 (0) 653 304 590
David Anderson KBC Peel Hunt Ltd Tel: +44 (0) 20 7418 8900
Hugo de Salis St Brides Media & Finance Ltd Tel: +44 (0) 20 7242 4477
This information is provided by RNS
The company news service from the London Stock Exchange