BBI Development plans to raise PLN 53m through a new bond issuance, set to take place on the Catalyst bond market. The developer said the money will be used to refinance bonds that matured last month, as well as for the company’s ongoing development projects. The step has already been approved by the Warsaw Stock Exchange and BondSpot.
BBI Development posted a consolidated net profit of PLN 17.34m last year, a substantial jump from PLN 1.75m reported in 2012. The company’s operating profit, however, shrank from PLN 10.07m in 2012 to PLN 1.26m.
