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 ...
PrimeCity Investments , an unlisted member of Germany Gabay"s stable of property investment companies has issued a € 450 pre-IPO convertible which embodies a strong pledge that the company will float in the next year . Aroundtown invests largely in turnaround assets in Grand City Properties via stakes in Grand City Properties and Aroundtown Properties .