One United Properties, a real estate developer specializing in residential property in Bucharest, will issue 20m euros of 4-year bonds through private placement, fully funded by co-management by Credit Value Investments in Poland.
"One United Properties' bond financing shows CVI's confidence in the company's leading position in the luxury residential segment in Bucharest, but especially in its growth prospects for the coming years. The funding granted refers both to the existing One United Properties residential projects as well as to certain new ones. We believe in the power of private capital that can become the engine of the Romanian economy in order to create an added value chain that will remain within the country,"
said Ciprian Nicolae, Credit Value Investments Director.
The amounts will be used to develop the existing and the new residential projects of the company.
Credit Value Investments (CVI) is an independent investment firm that started its operations in 2012 and soon became the leader of the non-banking finance segment in Poland and Central and Eastern Europe.
"The bonds will improve the company's capital structure and provide liquidity for the new residential developments. It is an approach that will stimulate us in creating new sustainable projects that align with the top one-of-a-kind and philosophy of the One United Properties brand."
said Victor Capitanu, Founder One United Properties together with Andrei Diaconescu.
The transaction was concluded through the two lawyers of the two parties: Wolf Theiss and Rădulescu & Muşoi for Credit Value Investments and Biriş Goran and Schoenherr for One United Properties. The investment consultant of the transaction was Simona Gemeneanu from Morphosis Capital.
In September 2017, One United Properties S.A. has raised its capital by 10 million euros coming from private investment, representing 8.13% of the company.
One United has several completed residential projects (188 apartments), under construction (340 apartments) and which are due to be started in the coming years (484 apartments).
Source: Forbes Romania, November 27, 2017