Taylor Wessing has advised Grand City Properties S.A. on its successful issue of EUR 150 million senior, secured five year convertible bonds convertible into new and/or existing ordinary shares in Grand City Properties. Following an accelerated book building process, the nominal coupon for the convertible bonds was fixed at 1.50 % p.a.  J.P. Morgan was acting as Sole Global Coordinator, with Berenberg and Deutsche Bank as Joint Bookrunners, and Anoa Capital S.A. as Co-manager in relation to the transaction.  Grand City Properties intends to use the proceeds for the acquisition of further property portfolios in Germany.

The Taylor Wessing team advising Grand City Properties S.A on the bond issue comprised Russell Holden (Partner, Corporate/Capital Markets, London), Marc-Oliver Kurth (Partner, Corporate/Capital Markets Berlin), Alexandra Richardson & Edward Hooper (Associates, Corporate/Capital Markets, London) and Dr. Norman Röchert & Sebastian Klabunde (Associates, Corporate/Capital Markets, Berlin).