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ISSUER WITHIN GRIFFIN REAL ESTATE GROUP

  • Name 1:
    GFN1217
  • Name 2:
    GREINVEST
  • Full name:
    Griffin Real Estate Invest Sp. z o.o.
  • Seat address:
    Al. Jana Chrystiana Szucha 6, 00-582 Warszawa
  • Telephone:
    + 48 22 21 21 920
  • E-mail:
    finanse@griffin-re.com; info@griffin-re.com
  • www:
    http://www.griffin-re.com/pl/obligacje
  • REGON:
    146723030
  • NIP:
    118-20-92-533
  • KRS:
    0000465667

Griffin Real Estate Invest Sp. z o.o. is an entity within the Griffin Real Estate Group, established for the purpose of handling the issuance of bonds. Formed in 2006, the Griffin Group is currently the most active investor in the real estate market in Poland, with nearly EUR 5 billion worth of assets under its management.

The Group carries out investments in the main cities of Poland. Its portfolio includes large shopping centres — DH Supersam in Katowice, Hala Koszyki in Warsaw and the Group’s flagship project, DH Renoma in Wrocław; major office buildings, including in Warsaw and Cracow; student houses and residential projects.

Between June and October 2015, through a joint venture with PIMCO, the Griffin Group acquired a majority stake (65.99%) in Echo Investment S.A., one of the principal Polish development companies. This is the largest corporate transaction executed thus far on the Polish real estate market. In March 2016, Echo Investment S.A. and Redefine concluded an agreement whereby Echo will sell a 75% stake in the company holding all the operating assets of the Echo Investment Group — its office and commercial property. The remaining 25% stake will be retained by Echo Investment. The company held by Redefine and Echo Investment will be similar in structure to a REIT fund and will initially manage assets valued at EUR 1.18 billion.

Apart from investing its own resources, Griffin Real Estate is also responsible for property management inPoland onbehalf of global investment funds. These primarily include Oaktree Capital Management, which has been Griffin’s strategic partner for afew years now, Pacific Investment Management Corporation (PIMCO), for whom thejoint investment in Echo InvestmentS.A. was the debut transaction on thePolish market, Redefine from South Africa, and Globalworth, which is listed on London Stock Exchange.

The Group also supports numerous community initiatives, including the Jan Karski Educational Foundation, and the venues owned by Griffin are also used for implementing art projects initiated by Griffin Art Space, a programme started by the Art&Innovation Space Foundation with the aim of supporting and promoting art.

Griffin has won many awards, the most recent being “Retail Development of the Year CEEQA 2017,” “Investor of the Year CEEQA 2016” and “Company of the Year CEEQA 2016” in the international competition Central & Eastern European Real Estate Quality Awards in collaboration with the Financial Times.

News

  • Issue of new Series 3A

    Published: 30-06-2017

    The Management Board of Griffin Real Estate Invest Sp. z o.o. seated in Warsaw announced that on 30 May 2017 it issued 1,100 Bonds with a nominal value of PLN 100,000 each and a total nominal value of PLN 110,000,000 under the issue programme adopted by Resolution No. 1 dated 23 November 2015. The Series 3A Bonds are secured and interest‑bearing with a maturity date of 30 December 2019.

  • Full early redemption of Bonds

    Published: 29-06-2017

    The Management Board of Griffin Real Estate Invest Sp. z o.o. seated in Warsaw (the “Issuer”) informed that on 29 June 2017 it performed a full early redemption of the Issuer’s Bonds Series 1A and 2A (bearing single code PLGRFRL00017) (the “Bonds”).

  • Announcement of intended full early redemption of Bonds

    Published: 26-05-2017

    The Management Board of Griffin Real Estate Invest Sp. z o.o. seated in Warsaw (the “Issuer”) notified of the full early redemption of the Issuer’s Bonds Series 1A and 2A (bearing single code PLGRFRL00017) (the “Bonds”), which is to take place on 29 June 2017. On the day of early redemption, the Issuer will redeem 2,000 Bonds with a total nominal value of PLN 80,000,000. The payment per Bond will amount to PLN 40,000 and will be increased by due interest and premium.

  • Partial early redemption of Bonds

    Published: 26-05-2017

    The Management Board of Griffin Real Estate Invest Sp. z o.o. seated in Warsaw (the “Issuer”) informed that on 26 May 2017 it performed a partial early redemption of the Issuer’s Bonds Series 1A and 2A (bearing single code PLGRFRL00017) (the “Bonds”). The payment per Bond was PLN 60,000, thus the nominal value of one Bond following the redemption amounted to PLN 40,000.

  • Announcement of intended partial early redemption of Bonds

    Published: 11-05-2017

    The Management Board of Griffin Real Estate Invest Sp. z o.o. seated in Warsaw (the “Issuer”) informed that given the final and binding discharge of liens and mortgages securing the Issuer’s Bonds Series 1A and 2A (bearing single code PLGRFRL00017) (the “Bonds”) and the release of other collateral provided for in Resolution No. 5 of the Bondholders’ Meeting dated 3 October 2016 and published on the Issuer’s website on 3 October 2016, on 26 May 2017 the Issuer will perform a partial early redemption of Bonds to the amount of PLN 120,000,000. The redemption of the Bonds will be executed in accordance with Article 117a(16) of the Detailed Rules of Operation of Krajowy Depozyt Papierów Wartościowych S.A., i.e. through a partial repayment of the nominal value of Bonds. The payment per Bond will be PLN 60,000, thus the nominal value of one Bond following redemption will amount to PLN 40,000.

  • Release of mortgages on real property used to secure Bonds

    Published: 28-04-2017

    The Management Board of Griffin Real Estate Invest Sp. z o.o. seated in Warsaw (“Issuer”) informed that on 28 April 2017 the release of mortgages on real property used to partially secure the Issuer’s Bonds Series 1A and 2A (bearing single code PLGRFRL00017) (the “Bonds”) became final and legally binding. With regard to the above, the Issuer had the collateral repaid into its bank account.

  • Discontinuance of proceedings regarding the entry of the “Emilia” pavilion into the register of Mazowieckie Voivodeship immovable monuments

    Published: 24-03-2017

    The Management Board of Griffin Real Estate Invest Sp. z o.o. seated in Warsaw (the “Issuer”) informed that by way of Decision No. 311/2017 dated 16 March 2017, the Monument Conservation Officer of Mazowieckie Voivodeship discontinued the proceedings regarding the entry into the register of Mazowieckie Voivodeship immovable monuments of a portion of the complex subject to the proceedings — the “Emilia” pavilion erected 1967–69, situated at 51 Emilii Plater Street in Warsaw, and of other elements of the complex, i.e. the two‑story “back office” of the main building located in the residential building of 3 Pańska Street and the two suspended walkways.

    20170324_obl_inf_2_2017.pdf

  • Completion of demolition works in the “Emilia” pavilion

    Published: 10-03-2017

    The Management Board of Griffin Real Estate Invest Sp. z o.o. seated in Warsaw (the “Issuer”) informed that as per the business plan of the Griffin Real Estate Group (the “Group”), of which the Issuer forms a part, the demolition of the “Emilia” pavilion situated at 51 Emilii Plater Street has been completed.

    20170309_obl_inf_1_2017.pdf

  • Proceedings of the Bondholders’ Meeting

    Published: 27-01-2017

    The Management Board of Griffin Real Estate Invest Sp. z o.o. (the “Issuer”) informed that at the resumed session of the Bondholders’ Meeting for Bonds Series 1A and 2A, which took place on 27 January 2017, the quorum was not present and, as a result, the Meeting was unable to adopt binding resolutions. Therefore, the Chairman closed the proceedings of the Bondholders’ Meeting.

    20170127_grei_protokol-z-dalszej-czesci-zgromadzenia-obligatariuszy.pdf

  • Proceedings of the Bondholders’ Meeting

    Published: 13-01-2017

    The Management Board of Griffin Real Estate Invest Sp. z o.o. (the “Issuer”) informed that during the resumed session of the Bondholders’ Meeting for Bonds Series 1A and 2A, which took place on 13 January 2017, a break was ordered. Proceedings will be resumed at the Meeting on 27 January 2017 at 10:00 am.

    20170113_grei_protokol-z-dalszej-czesci-zgromadzenia-obligatariuszy.pdf

     

  • Proceedings of the Bondholders’ Meeting

    Published: 28-12-2016

    The Management Board of Griffin Real Estate Invest Sp. z o.o. (the “Issuer”) informed that during the resumed session of the Bondholders’ Meeting for Bonds Series 1A and 2A, which took place on 28 December 2016, a break was ordered. Proceedings will be resumed at the Meeting on 13 January 2017 at 10:00 am.

    20161228_grei_protokol-ze-zgromadzenia-obligatariuszy.pdf

     

  • Terms of Issue of Bonds

    Published: 27-12-2016

    The Management Board of Griffin Real Estate Invest Sp. z o.o. (the “Company”) informed that on 27 December 2016 the Company satisfied the requirements set out in Article 2 of Resolution No. 5 of the Bondholders’ Meeting for Bonds Series 1A and 2A (bearing single code PLGRFRL00017) (the “Bonds”) dated 3 October 2016 (the “Resolution”). Thus, pursuant to Article 3 of the Resolution, on 27 December 2016 the Company published the Terms of Issue of Bonds, drawn up as per the template provided in Annex 1 to the Resolution (the “Terms of Issue”).

    20161227_obl_weo_grei—warunki-emisji-obligacji.pdf

     

  • Convocation of the Bondholders’ Meeting

    Published: 06-12-2016

    The Management Board of Griffin Real Estate Invest Sp. z o.o., seated in Warsaw at 6 Jana Chrystiana Szucha Avenue, 00‑582 Warsaw, with registers kept by the District Court for the capital city of Warsaw in Warsaw, XII Commercial Division of the National Court Register, entered into the National Court Register under No 0000465667, NIP 1182092533, REGON 146723030, with share capital to the amount of PLN 200,000 (paid in full) (the “Issuer“), acting pursuant to Article 50(1)(3) and Article 51(1–3) of the Bond Act of 15 January 2015, is convening upon its own initiative the Bondholders’ Meeting for Bonds Series 1A and 2A issued by the Issuer on 29 December 2015 and 5 May 2016 respectively (the “Bondholders’ Meeting”).

    The Bondholders’ Meeting will be held on 28 December 2016 at 10:00 am at the Issuer’s seat located at 6 Jana Chrystiana Szucha Avenue, 00‑582 Warsaw.

    The Bondholders’ Meeting will be devoted to amending the assimilated Terms of Issue of Bonds Series 1A and 2A bearing single code PLGRFRL00017 as regards Bond characteristics (including a change of the redemption date) and possible amendments to Resolution No. 5 of the Bondholders’ Meeting dated 3 October 2016 as regards the version of the Terms of Issue applicable after the Bondholders’ Meeting.

    Detailed information is provided in the enclosed announcement.

    griffin_ogloszenie-o-zwolaniu-zo-3-189184-3-662-v0.3.pdf

  • Update of real property valuations

    Published: 11-10-2016

    With regard to Point 18.3 of the Terms of Issue of Bonds, Griffin Real Estate Invest Sp. z o.o (the “Issuer”) has published below the updates to the valuations of real property used to secure the Bonds.

    20160930_emi_val_emilia-valuation-report.pdf

    20160930_jup_val_jupiter-valuation-report.pdf

  • Proceedings of the Bondholders’ Meeting

    Published: 03-10-2016

    The proceedings of the Bondholders’ Meeting for Bonds Series 1A and 2A (the “Bonds”) were resumed on 3 October 2016, after the break ordered on 26 September 2016. The Bondholders’ Meeting adopted resolutions amending the Terms of Issue of Bonds as regards the procedure of releasing the collateral in the case of potential sale of the real property used to secure the Bonds.

    Below are the minutes of the Bondholders’ Meeting and the consolidated version of the amended Terms of Issue of Bonds.

    20161003_obl_weo_grei.pdf

    20160926_obl_res_grei—protokol-zo_przed-przerwa.pdf

    20161003_obl_res_grei—protokol-zo_po-przerwie_wyciag.pdf

     

  • Proceedings of the Bondholders’ Meeting

    Published: 26-09-2016

    The Management Board of Griffin Real Estate Invest Sp. z o.o. (the “Issuer”) informed that at the resumed session of the Bondholders’ Meeting for Bonds Series 1A and 2A, which took place on 26 September 2016, a break was ordered. Proceedings will be resumed at the Meeting on 3 October 2016.

    20160926_grei_protokol-ze-zgromadzenia-obligatariuszy.pdf

  • Convocation of the Bondholders’ Meeting

    Published: 02-09-2016

    The Management Board of Griffin Real Estate Invest Sp. z o.o. seated in Warsaw at 6 Jana Chrystiana Szucha Avenue, 00‑582 Warsaw, with registers kept by the District Court for the capital city of Warsaw in Warsaw, XII Commercial Division of the National Court Register, entered into the National Court Register under No 0000465667, NIP 1182092533, REGON 146723030, with share capital to the amount of PLN 200,000 (paid in full) (the “Issuer”), acting pursuant to Article 50(1)(3) and Article 51(1–3) of the Bond Act of 15 January 2015, is convening upon its own initiative the Bondholders’ Meeting for Bonds Series 1A and 2A issued by the Issuer on 29 December 2015 and 5 May 2016 respectively (the “Bondholders’ Meeting”).

    The Bondholders’ Meeting will be held on 26 September 2016 at 10:00 am at the Issuer’s seat located at 6 Jana Chrystiana Szucha Avenue, 00‑582 Warsaw.

    The Bondholders’ Meeting will be devoted to amending the assimilated Terms of Issue of Bonds Series 1A and 2A bearing single code PLGRFRL00017.

    Detailed information is provided in the enclosed announcement.

    20160902_obl_not_grei—ogloszenie-o-zwolaniu-zgromadzenia-obligatariuszy-zmiana-weo-.pdf

  • Convocation of the Bondholders’ Meeting

    Published: 03-06-2016

    The Management Board of Griffin Real Estate Invest Sp. z o.o. seated in Warsaw at 6 Jana Chrystiana Szucha Avenue, 00‑582 Warsaw, with registers kept by the District Court for the capital city of Warsaw in Warsaw, XII Commercial Division of the National Court Register, entered into the National Court Register under No 0000465667, NIP 1182092533, REGON 146723030, with share capital to the amount of PLN 200,000 (paid in full) (the “Issuer“), acting pursuant to Article 50(1)(3) and Article 51(1–3) of the Bond Act of 15 January 2015, is convening upon its own initiative the Bondholders’ Meeting for Bonds Series 2A issued by the Issuer on 5 May 2016 (the “Bondholders’ Meeting”).

    The Bondholders’ Meeting will be held on 27 June 2016 at 10:00 am at the Issuer’s seat located at 6 Jana Chrystiana Szucha Avenue, 00-582 Warsaw.
    The Bondholders’ Meeting will be devoted to amending the Terms of Issue of Bonds Series 2A issued by the Issuer on 5 May 2016.

    Detailed information is provided in the enclosed announcement.

    20160603_obl_not_grei—ogloszenie-o-zwolaniu-zgromadzenia-obligatariuszy-druga-seria-.pdf

  • Debiut Griffin Real Estate Invest Sp. z o.o. na Catalyst

    Published: 24-03-2016

    On 22 March 2016, the Bonds of Griffin Real Estate Invest Sp. z o.o. made their debut. The gala for the debut was attended by Vice President of the Management Board of Warsaw Stock Exchange Grzegorz Zawada and President of the Management Board of BondSpot S.A. Jacek Fotek, and on the Issuer’s part, Przemysław Krych, CEO of Griffin Real Estate, and Maciej Dyjas, Co‑CEO of Griffin Real Estate, as well as numerous guests and journalists.

    A detailed account is provided on the Catalyst website.

    http://www.gpwcatalyst.pl/aktualnosci?ph_main_content_1_start=show&ph_main_content_1_cmn_id=8156

  • Uchwała Zarządu BondSpot SA

    Published: 18-03-2016

    Pursuant to the Alternative Trading System Rules, the Management Board of BondSpot S.A. resolved to establish 22 March 2016 as the first trading date in the alternative system on Catalyst of 1,470 bearer bonds Series 1A issued by Griffin Real Estate Sp. z o.o., having a total nominal value of PLN 147,000,000 and bearing code PLGRFRL00017 assigned by KDPW S.A., and determined the following with regard to the bonds:
    Last trading date – 15 December 2017
    Trading unit – 1 piece
    Mandatory unit – 1 piece
    Symbol – GFN1217

  • Resolution on the introduction of GREINVEST bonds to the Alternative Trading System on Catalyst

    Published: 17-03-2016

    The Management Board of the Warsaw Stock Exchange adopted a resolution on the introduction to the Alternative Trading System on Catalyst of 1,470 bearer bonds Series 1A issued by Griffin Real Estate Sp. z o.o., worth PLN 100,000 each.

  • Successful issue of the first series of Bonds under the issue programme of Griffin Real Estate Invest Sp. z o.o.

    Published: 29-12-2015

    On 29 December 2015, the Bondholders took up the first series of Bonds issued by Griffin Real Estate Invest Sp. z o.o., with a total value of PLN 147 million. The Issuer is a special purpose entity established with the aim of handling debt securities. The Issuer transferred the proceeds to the parent company in the form of a loan. Griffin Real Estate Group will use the Bonds issued to repay liabilities associated with real property purchase agreements, to acquire new investments and to finance capital expenditures on projects in the Group’s portfolio.

    The bonds are secured by means of, among others, company guarantees.

PUBLICATION DATES OF REPORTS AND CERTIFICATES IN 2017

  • Annual certificate of accuracy as per 31 December 2016:
    01.06.2017
  • Bi-annual certificate of accuracy as per 30 June 2017:
    28.09.2017
  • Bi-annual report for 2017
    29.09.2017
  • Annual report for 2016
    31.05.2017

Catalyst Reports

Current reports

Number and subject of report

Periodic reports

Number and subject of report

Bond Issue Programme

  • Issue Programme Organiser: mBank
  • Issue mode: Non-public (addressed to selected investors of no more than 149)
  • Bond Issue Programme Bonds with nominal value of up to PLN 300 million; secured, dematerialised
  • Nominal value: PLN 100,000
  • Maturity period: 2 years
  • Trading market: BondSpot Alternative Trading System

First issue

  • Series 1A
  • Value of first issue: 147.000.000
  • Code of security instrument: PLGRFRL00017
  • Interest rate: WIBOR 3M plus 5% margin
  • Issue date: 29 December 2015

Second issue

  • Series 2A
  • Value of first issue: 53.000.000
  • Code of security instrument: PLGRFRL00025
  • Interest rate: WIBOR 3M plus marża 5%
  • Issue date: 5 May 2016