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KSB Advises on Issuance of Discounted Certificates for New Rustonka Real Estate Project

KSB Advises on Issuance of Discounted Certificates for New Rustonka Real Estate Project

Czech Republic
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KSB has assisted Cypriot company Gramexo PLC on its issuance of discounted certificates in the value of approximately CZK 1.4 billion. Gramexo owns 100% of Rustonka Development s.r.o.— a company established for the construction of a complex of several office buildings with a total area of approximately 37,000 square meters on land formerly occupied by the Rustonka factory in Prague-Karlin.

It is expected that the funds raised from the issuance of certificates will be provided by means of loans to Rustonka, which will use such funds for the refinancing of its bank loans, which the company used for the purpose of land acquisition and financing of the project costs of the project.

KSB's services included representing Gramexo during proceedings for approval of the certificates for the purpose of admission to trading on the Stock Exchange and the public bid by the Czech National Bank. These certificates were accepted for trading on the Prague Stock Exchange in autumn of this year.

Editorial Note: After this article KSB informed CEE Legal Matters that its team on the matter had been led by Partner Martin Krejci and Senior Associate Vlastimil Pihera.

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