Warsaw-listed GTC completes 200 mln zlotys debt issue

WARSAW, March 11 Tue Mar 11, 2014 3:55am EDT

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WARSAW, March 11 (Reuters) - Warsaw-listed real-estate developer GTC has issued 200 million zlotys ($66 million) worth of bonds to refinance part of its current debt and fund future growth, the group said on Tuesday.

GTC issued 20,000 bonds paying a 4.5 percent coupon and maturing in 2019.

The issue comes after earlier in the year GTC completed a 224-million zloty share offer aimed at cutting its debt.

The developer was hit when the global financial crisis weighed on real-estate prices and resulted in writedowns on some of its assets. ($1 = 3.0371 Polish zlotys) (Reporting by Adrian Krajewski; Editing by David Holmes)

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