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PRESS RELEASE: Grand City Properties S.A., : successfully places EUR 150 million convertible bonds

Grand City Properties S.A., / Key word(s): Issue of Debt/Bond

17.02.2014 16:32

Dissemination of a Corporate News, transmitted by DGAP - a company of EQS Group AG. The issuer / publisher is solely responsible for the content of this announcement.

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Corporate News

(socit anonyme) 6, Boulevard Pierre Dupong L-1430 Luxembourg R.C.S. Luxembourg: B 165 560

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Grand City Properties S.A. successfully places EUR 150 million convertible bonds

Luxembourg, February 17, 2014 - Grand City Properties S.A. (the 'Company') announces the successful placement of EUR 150 million senior, secured convertible bonds convertible into new and/or existing ordinary shares having a par value of EUR 0.10 (the 'Shares') of the Company (the 'Bonds'). Following an accelerated book building process, the Company fixed the nominal coupon at 1.50 % p. a., payable semi-annually in arrear. The initial conversion price was fixed at EUR 9.72 (equal to a premium of 27.5 % above the reference share price). The Bonds will be issued at 100% of their principal amount and will be redeemed at maturity at 106.65 % of their principal amount.

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PRESS RELEASE: Grand City Properties S.A., : successfully places EUR 150 million convertible bonds