New Issue: Orco Property Group sells CZK 1.4 billion of five-year bonds

By Reshmi Basu

New York, Jan. 19 -Orco Property Group said it issued CZK 1.4 billion of five-year floating-rate notes at par to yield six-month Pribor plus 220 basis points in its debut issue in the Czech markets.

Proceeds from the sale will be used for new acquisitions.

Luxembourg-based Orco Property Group is an investor, developer and asset manager in the Central European real estate and hospitality markets.

Issuer: Orco Property Group

Amount: CZK 1.4 billion

Issue: Floating-rate notes

Maturity: 2011

Coupon: Six-month Pribor plus 220 basis points

Issue price: Par

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