“FairPlay Properties” REIT successfully traded off its second Bond issue at the amount of EUR 2,4 mln

Sofia, January 31, 2013

   As at 30.01.2013 “Fairplay Properties” REIT successfully traded off second Corporate Secured Bond issue of the Company.
 The volume of the issue is 2 400 000 (two million and four hundred thousands) euro. The nominal and the issue value of one bond is respectively 1 000 (thousand) euro.
The bonds are ordinary, interest-bearing, dematerialized (registered in the “Central Depositary” JSC), registered, freely transferable, secured, non-convertible.

   The Initial offering of bonds is made under the conditions a private placement to a limited number of persons in accordance with art. 205, Para 2 of the Commercial register not under the conditions of a public offering). After the subscription of the securities and the conclusion of the Bond loan, they will be stated in the Issuers` register in the Financial Supervision Commission and for trade on the “Main market of the Bulgarian Stock Exchange, The Bonds Segments”. 

   The present Bond issue is highly targeted and will be used for financing of the projection and for the construction until rough construction of a building for a commercial complex and an open-air swimming pool in the holiday complex “Santa Marina”, the town of Sozopol, as well as for financing of completion works and equipment of a building for a complex social service in the holiday complex “Santa Marina”, the town of Sozopol.
   The resources from the issue will not be use for financing and refinancing of VAT.
   The interest of the Bond issue is a floating interest rate at the amount of 3-month EURIBOR plus a margin of 550 basis points, but not less than 6.5% ( six point five percent) per year, payable by 3 (three) monthly coupon payments, calculated on the bases of simple interest for the separate three-month periods on the nominal value of each bond. 

   The payment of the principal will be done in 6-month period in accordance with the payment plan. The issue is with payment term of 96 months (ninety six months) after the issuing date.

   “FairPlay Properties” REIT is listed on the BSE – Sofia on 17th of February, 2006. Major shareholder in the company is “FairPlay International” with 61.70% share in the capital, the rest of the shareholders are institutional investors (10 pension, 20 mutual funds and investment companies) and over 410 individuals and legal entities, retail investors.

   As at December 2012, the investment portfolio of "FairPlay Properties" REIT includes 10 projects from different market segments. The TBA is 386 thousand sq. m., and the investments made by the end of the year amounts to BGN 205 mln.
   The Company has received many prestigious awards, including:

•  „Company with best Corporate governance for Special investment purpose Companies, 2006”, Investors` Association in Bulgaria;

•  „Best IR Website”, the Bulgarian Association of Investor Relations Directors for 2008;

•  Second place in the Annual rating of Dnevnik newspaper – “Top 100 best companies on the stock exchange in Bulgaria in 2009” in the category “Best REIT for properties”.

The Projects of the Company have also received many prestigious awards, including:

•  The largest project of the Company – the holiday complex “Santa Marina”, Sozopol with award „Holiday complex of the Year” from the competition „Building of the year 2006” and award for its webpage in the category „Best Real Estate Website” from the international web festival Albena; 2008;

•  „Best Marine Project” for the holiday village “Santa Marina”, Sozopol – from the international competition „Best Project 2009”, organized in the frame of the initiative Year of Bulgaria in Russia;

•  Golden  award “Best Holiday Village of 2010” for the project “Santa Marina” in Sozopol from the Russian magazine Homes Overseas;

•  Annual Award for 2009 of the Bulgarian Hotel and Restaurant Association (BHRA) in the category “Best four star resort hotel” for the project of the Company SPA Hotel “St. Ivan Rilski”, Bansko;

•  Annual Award “Best Holiday Village of 2010” of the Bulgarian Hotel and Restaurant Association (BHRA) for the project “Santa Marina” in Sozopol.

More information:

Snezhana Yotinska
Investor Relations Director
Tel: 02/ 8 199 121
e-mail: s.yotinska@fpp.bg