Credit: Forty ManagementForty Management launches first bond issue as it eyes stock exchange listing
With first EUR 5 million bond issues, Romania-based sustainable RE developer prepares for listing on the Bucharest Stock Exchange
December 4, 2024Real Estate
Written by Helen Richards
Forty Management, a leading developer of sustainable real estate projects in Romania and Europe, has announced its debut bond issuance. The guaranteed bonds aim to raise up to EUR 5 million, with a four-year maturity and a semi-annual coupon payment structure.
The private placement, coordinated by Goldring broker, marks a significant milestone for the company as it explores capital markets as a strategic financing avenue. This move is seen as a preparatory step in Forty Management’s journey towards a potential stock exchange listing, reflecting the company’s growth ambitions and commitment to leveraging innovative funding solutions.
The decision to launch this bond issue aligns with the company’s expanding portfolio of international projects. These include the Lagoon City developments in Seville and Budapest, as well as investments in Lagoon Park Bucharest, which opened to the public earlier this year.
Forty Management also plans to extend its Public Access Lagoon (PAL) concepts to other major European cities, such as Rome, Toulouse, Milan, Prague, and Warsaw. These projects will utilise the patented Crystal Lagoons® technology, enabling the construction and maintenance of cost-efficient, energy-saving artificial turquoise water lagoons of unlimited size.
Recognised as a pioneer of self-sustainable, green urban reconversion projects, Forty Management is committed to advancing its international expansion. The company’s growing portfolio currently includes eight mixed-use Lagoon City and eleven Public Access Lagoon developments across six countries: Hungary, the Czech Republic, Poland, Italy, France, and Spain.
Additionally, Forty is developing three luxury hotels with a total of 702 rooms, including the Radisson Lagoon and Central District Hotel - Crest Collection, both in Bucharest, and the Swissôtel Hotel within Lagoon City Budapest. The company has also initiated the selection process for an international hotel operator for Lagoon City Seville.
By opening its financing to local investors, Forty Management aims to further enhance its impact, enabling stakeholders to participate in the development of transformative, sustainable projects across Europe. The bond issue serves as a key step in the company’s long-term strategy to deliver on its ambitious vision while strengthening its position as a leader in the real estate market.
Forty Management, a leading developer of sustainable real estate projects in Romania and Europe, has announced its debut bond issuance. The guaranteed bonds aim to raise up to EUR 5 million, with a four-year maturity and a semi-annual coupon payment structure.
The private placement, coordinated by Goldring broker, marks a significant milestone for the company as it explores capital markets as a strategic financing avenue. This move is seen as a preparatory step in Forty Management’s journey towards a potential stock exchange listing, reflecting the company’s growth ambitions and commitment to leveraging innovative funding solutions.
Credit: GRI Club
The decision to launch this bond issue aligns with the company’s expanding portfolio of international projects. These include the Lagoon City developments in Seville and Budapest, as well as investments in Lagoon Park Bucharest, which opened to the public earlier this year.
Forty Management also plans to extend its Public Access Lagoon (PAL) concepts to other major European cities, such as Rome, Toulouse, Milan, Prague, and Warsaw. These projects will utilise the patented Crystal Lagoons® technology, enabling the construction and maintenance of cost-efficient, energy-saving artificial turquoise water lagoons of unlimited size.
Recognised as a pioneer of self-sustainable, green urban reconversion projects, Forty Management is committed to advancing its international expansion. The company’s growing portfolio currently includes eight mixed-use Lagoon City and eleven Public Access Lagoon developments across six countries: Hungary, the Czech Republic, Poland, Italy, France, and Spain.
Additionally, Forty is developing three luxury hotels with a total of 702 rooms, including the Radisson Lagoon and Central District Hotel - Crest Collection, both in Bucharest, and the Swissôtel Hotel within Lagoon City Budapest. The company has also initiated the selection process for an international hotel operator for Lagoon City Seville.
By opening its financing to local investors, Forty Management aims to further enhance its impact, enabling stakeholders to participate in the development of transformative, sustainable projects across Europe. The bond issue serves as a key step in the company’s long-term strategy to deliver on its ambitious vision while strengthening its position as a leader in the real estate market.
