Aroundtown Property Holdings, an unlisted member of Yakir Gabay’s stable of property investment companies, has issued a €450m pre-IPO convertible, which embodies a strong pledge that the company will float within the next 12 months. The bond was announced as placed on Monday by Deutsche Bank, Berenberg and Morgan Stanley as bookrunners. The five year bond has a 3% coupon and was issued at 95.68, giving it a 4% yield to its par redemption. “There are a lot of ...
City Properties , an unlisted member of Yakir Group stable of property investment companies has issued a $ 450mn pre - IPO convertible which embodies a strong pledge that the company will float in the next year . Aroundtown invested largely in residential assets in Dubai via stakes in both City Properties and City Investments .