Knight Frank appointed lead agent to lease Andersia Silver – the highest office tower in Poznań

The Von der Heyden Group has appointed Knight Frank as lead agent to advise in leasing of Andersia Silver, a new office tower under construction in Poznań.

Andersia Silver, a modern A class office building, will complete the development of Plac Andersa in Poznań, one of the most prestigious locations in the city center. The building’s total leasable area amounts to circa 40,000 sqm over 25 floors. Tenants will also have access to 244 parking spaces in a three-floor underground car park.  Construction completion is scheduled for Q2 2023. Andersia Silver will be the tallest office building in Poznań at a height of 117.5m. The Investor plans to obtain LEED GOLD certification, attesting to ecological solutions applied both at the design and construction stages.

“We thank the Von der Heyden Group for placing their trust in Knight Frank. After its completion, Andersia Silver will be a prime office product located in the heart of the commercial center of Poznań.  In addition to panoramic views and arguably the best office location in the city, Andersia Silver will offer flexible floor layouts which have turned-out to be essential, in the times of the pandemic,” said Janusz Garstka, Associate Director at Knight Frank’s Landlord Representation.

 “We are glad to be working with Knight Frank. We highly value the competencies of their whole team as regards the leasing process and office market knowledge. The Von der Heyden Group always aims to develop high quality office buildings for the most demanding tenants. Andersia Silver will be no exception. We do understand the importance of prime location and a high quality office product for tenants whose aim is to attract and hire the most talented people to compete on the global market,” remarked Piotr Trybusz, Leasing Director at Andersia Silver.

Von der Heyden Group Launches Luxury Yacht Charter Company

ARGO Birds eye view

The Von der Heyden Group, an international investment firm eminent in almost 20 cities around Europe, has launched a luxury Yacht Charter company based in Malta. For more than the last 30 years, the Group has made its mark in prominent locations through national real estate developments including A-Class commercial, residential buildings as well as the rehabilitation of landmark sites. The Von der Heyden Group has also spearheaded several successful real estate investment programs, including a luxury real estate agency operating in Sardinia, Von der Heyden Real Estate, a 9-hotel hospitality franchise, IBB Hotel Collection and Cugó Gran as well as a 4-establishment restaurant and catering company,  Hammett’s Collection.

Von der Heyden Yachting Ltd anchors an exclusive fleet of Ferretti Yachts moored in Malta, Sardinia and Menorca and will specialise in creating bespoke experiences to destinations around the Mediterranean.

With a history and heritage in luxury real estate and hospitality, the Group has over three decades maintained its status and commitment in delivering first-class innovations and exponential growth for shareholders and business partners. Von der Heyden Yachting is a natural offshoot and complementary addition to the Group’s subsidiaries, stemming from a personal passion and a deep appreciation of the sea. Our specialised Yachting company is not only distinguished by its mission to deliver unparalleled luxury experiences, but also through the truly unique and customised journeys for our clients in remote and magical locations around the Mediterranean.

Sven von der Heyden, Founder and Chairman, Von der Heyden Group

Von der Heyden’s Yachting fleet is in Puerto Portals (Mallorca), Poltu Quatu (Sardinia) and the Grand Harbour Marina in Malta where the ultra-luxurious 29 meter Riva Argo yacht is moored. It is also where one of the Group’s luxury hotels is situated (Cugó Gran Macina Grand Harbour) as well as the marina where the Group installed the island’s first seabin in the Capital’s harbour. Bespoke charters are offered around the Balearic Islands, the Costa Smeralda and Sardinia or further afield on board the flagship 29 meter Riva Yacht. The Malta-based luxury Yacht charter company offers 5 types of water sport options on board (depending on yacht type) and a specialised, highly trained crew with decades of worldly yacht charter expertise, combined with an impeccable hospitality experience.

This week, the Group has launched its website for multiple markets: www.vonderheydenyachting.com

Press Release VDHY Launch 04 04 2021

Von der Heyden Group reports a consolidated EBITDA increase of 29% to €4.3 million in its 2020 financial statements

TIMAN Investments Holdings Limited (the “Company”), the Von der Heyden Group’s holding company and the Von der Heyden Group Finance Plc guarantor, presented consolidated and audited annual accounts for the financial year ended 31st December 2020, reaching a  revenue of EUR 23,505,636 despite the global COVID-19 pandemic. The Company holds for capital growth and income generation, investments in 37 subsidiaries and associated companies around Europe.

The Group recorded a strong cash position of EUR 27,905,646 as at 31st December 2020, an increase of EUR 21,587,445 for the previous year end. Given the arduous economic conditions caused by the continuing global pandemic, such a result is highly positive, considering the impact and ramifications of COVID-19 on the Groups’ hospitality subsidiary IBB Hotel Collection.

With a significant improvement in the gearing ratio of the Group declining to 48.95% from 65.78% in 2019 and the borrowings of the Group dropping by 9.7% to EUR 84,493,912, inclusive of EUR 40,231,766 finance lease liabilities, the Group managed to exceed the EUR 25 million closing cash position forecasted in the Financial Analysis Summary (FAS) in August 2020. This was achieved through a significant effort of cost control, property investment returns and cash management.

The Group also recorded a positive working capital position, inclusive of cash in hand, of EUR 17,812,553 from a negative position in 2019 of EUR 6,170,757 due to the positive cash flow generated in the year.

The year under review has in turn highlighted an EBITDA increase of 29% to EUR 4,367,701 from EUR 3,387,218 in 2019, an increase of EUR 980,483. The year 2020 also showed an improvement in profitability of the Group, despite the loss before tax of EUR 483,791 managing a reduction of EUR 1,465,678 from last year’s losses, also through a significant effort to avert the forecasted loss before tax of slightly over EUR 5 million as reported in the FAS.  Moreover, the Group reports a very successful year in the real estate development segment generating EUR 12,255,267 (2019: EUR 178,090) in revenue resulting in net fair value gains of EUR 3,175,319 (2019: EUR 422,557) in relation to the value of investment properties.

The sale of the fully occupied A Class Blue Tower, forming part of the Bavaria Towers project in Munich, Germany,  as well as one of the Group’s luxury  boutique hotels Cugó Gran Menorca in Spain has generated excess liquidity during the financial year that both restricted and obligated the halt of the hospitality and tourism industry at large for over 12 months. The subsequent returns, efficient timing when selling properties and the Von der Heyden Group’s diversification in its real estate portfolio has ensured a strong and resilient position as an investment firm active in business in 8 markets across Europe. The Group’s results indicate the stability and favourable returns enjoyed from its complementary subsidiaries in the experiential luxury industry and real estate investment during the year to successfully weather the storm.

Luxury Rental Villa in Porto Cervo (Von der Heyden Real Estate)
Luxury Rental Villa in Porto Cervo (Von der Heyden Real Estate)

The Group’s boutique real estate agency in Sardinia, Von der Heyden Real Estate, operating since last summer, has registered healthy inroads  for luxury villa rentals in Costa Smeralda. This exclusive location, attracting niche and luxury vacationists coupled with the property team’s know-how, inspired the off-shoot of its most recent subsidiary, Von der Heyden Yachting, specialising in equally artful experiences and customised journeys around the Mediterranean, specifically the Balearics, Malta and Sardinia. Launched on Easter Sunday, this luxury yachting charter company hosts an exclusive fleet of Italian luxury Ferretti Yachts.

Argo NOI (Von der Heyden Yachting based in Malta, the Balearics and Sardinia)
Argo NOI (Von der Heyden Yachting based in Malta, the Balearics and Sardinia)

During the third quarter of 2020, Von der Heyden Development announced the commencement of Andersia Silver, a modern A-class office building, that will complete the development of Anders Square in Poznań, one of the most prestigious locations in the city centre. Andersia Silver will have 40,000 square meters of usable office space spread over 25 floors. Upon completion, in 2023, it will be 117.5 meters high, making it the highest skyscraper in Poznań one of the larger cities in Poland a center of trade, sports, education, technology and tourism. The building will also include 244 parking spaces on 3 underground levels and will obtain an LEED certificate at the GOLD level, which will confirm the ecological solutions used at the design and construction stage.

Chairman of the Von der Heyden Group Sven von der Heyden said:

The unrelenting impact of the world pandemic on travel as a global economic sector has been felt by many over the past 12 months. It is a time that will go down in history for the challenging and emotional decisions that had to be made by the commanders at the helm of thousands of businesses. The Von der Heyden Group, hit like the majority, leveraged its invaluable experience in previous economic downturns and its vigour in successful real estate investments and developments to secure its force against this unprecedented wave.

Our sustainable growth strategy continues to be the driving force of our vision for the next decade, where we expect high returns on the Group’s real estate developments and investment opportunities. The Von der Heyden Group is present from the West in Portugal, the south in Malta and Italy to the East in Poland and Ukraine. Our mission is to continue to thrive in economies that see the significance in restoring, rehabilitating or creating spaces that add value to these communities.

The Group’s CEO Bob Rottinghuis adds: Last year’s successful licensing of our asset management business and the resulting current launch of our first fund dedicated to the Ukrainian and Polish commercial real estate markets will make 2021 another exciting year for the Group. Despite the expected remaining economic headwinds we strive for sustainable growth of our subsidiaries and investments across Europe. At the same time, with the relentless dedication of our great team of people across all our companies and geographies, we keep looking for opportunities to gradually expand our solid capital base.

 

Von der Heyden Group continues its expansion in Italy launching a regulated securitisation vehicle

Von der Heyden Group announces its continued expansion after launching a regulated Securitisation Vehicle in Italy. Founded in 1989 in Germany, the Group has developed an aggregate investment program of over €650m in private equity real estate across different asset classes around Europe. Through this latest initiative the Group continues to expand its asset management activities.

The Von der Heyden Group’s SPV (130/99), regulated by the Bank of Italy, provides the ability to securitise credits acquired on the Italian Asset-Backed Securities market, through the issuance of notes.

The team responsible for the Group’s Italian expansion is led by Antonio Fenech (Executive Director) and Andrea Massa Vannucci (Associate Private Equity).  The Group has already secured its first credit block acquisition in Tuscany.  The transaction involved one of the largest investment players in Italy.

Andrea Massa Vannucci, Associate Private Equity: “The Italian market represents an important pillar of our growth plan. We also look at it as a new investment proposition to professional investors that can be shared with our partners through a regulated structure. We are now focusing to continue building our portfolio with additional strategic allocations.”

Antonio Fenech, Executive Director: “Italy is developing a quite interesting and attractive credit resolution mechanism that brought into play a unique investment opportunity in acquiring credits backed by undervalued assets. As specialised real estate investors we have the ability to identifying such assets that can be acquired at values that offer interesting returns and diversification options to investors.”

For the Master Servicing the Group has partnered Zenith Service Spa, that has handled in excess of €27bn in volumes of transactions managed.   The team has engaged other established players in Italy including NPLs RE Solutions srl and Heussen Studio Legale e Tributario srl for special servicing and legal counsel respectively.

VDHG Launches SPV in Italy PR 01 10 2021

FERRETTI GROUP CHOOSES VON DER HEYDEN YACHTING AS EXCLUSIVE RIVA DEALER IN MALTA

VON DER HEYDEN YACHTING WILL MARKET RIVA BRAND YACHTS ON AN EXCLUSIVE BASIS

Ferretti Group extends its presence in Europe and awards the exclusive dealership for the Riva brand in Malta to Von der Heyden Yachting.
The partnership with Von der Heyden Yachting will allow the Group to further consolidate its assistance network coverage in the region and provide an even more comprehensive service to owners in the central, western and eastern Mediterranean.

“With this agreement, Ferretti Group continues to expand its commercial activities and strengthen its selected distribution network. We are confident in our decision to entrust our storied and iconic brand to a world-renowned company in Von der Heyden Group which, with two decades of expertise providing tailor made services in the luxury yacht industry, has the know-how to communicate to local customers the ‘Made in Italy’ appeal, quality and excellence that have always been distinctive features of Ferretti Group worldwide,” commented Ferretti Group CCO Stefano de Vivo.

“Riva’s outstanding presence at the Cannes and Monaco yacht shows this year is testament to the iconic spirit of this brand and how it provides the perfect symphony between state-of-the-art technology, tradition and sheer beauty. We are more than honoured with the opportunity to represent Riva in Malta on an exclusive basis in combination with our experience in complementary yachting services and our other leisure subsidiaries in experiential hospitality,” said Sven von der Heyden, Founder and Chairman, Von der Heyden Group.

As official Riva dealer, Von der Heyden Yachting offers a combination of tailormade purchasing, selling, chartering, maintenance, management and assistance services for Riva motor yachts.

Press release: VDHY Ferretti Group chooses Von der Heyden Yachting as exclusive dealer in Malta 18 11 2021

VON DER HEYDEN GROUP REPORTS AN INCREASE IN ITS ADJUSTED EBITDA MARGIN AND A SIGNIFICANT IMPROVEMENT IN TOTAL COMPREHENSIVE INCOME FOR 2021 STATEMENTS

Von der Heyden Group’s holding company TIMAN Investments Holdings Limited, today published the consolidated results for 2021 and reported an improvement in its adjusted EBITDA margin, the generation of positive cash flow from operating activities, increased investment levels while maintaining a strong liquidity position.

The Group holds for capital growth and income generation investments in 37 subsidiaries and associated companies across eight countries in Europe. The Group’s diverse portfolio is spread across four lines of business; its real estate developments, investments and services; hotel accommodation and catering; asset management; and private equity, venture capital and capital markets investments.

2021 END OF YEAR FINANCIAL STATEMENTS
These achievements have been recorded despite the longer-term effects of COVID-19 on the global economy, namely the ongoing travel and quarantine restrictions on the tourism sector as well as the disruption in logistics and increase in costs on the real estate industry.

Notwithstanding, the Group managed to improve its adjusted EBITDA margin to 37.2% (2020: 32.1%) of EUR 4,284,456 (2020: EUR 7,540,798) despite the decrease in overall revenue for the year to EUR 11,518,975 (2020: EUR 23,505,636) due to the cyclical nature of the real estate industry. Moreover, the Group recorded an increase in positive Cash flow from operating activities in the year by EUR 3,201,030 to EUR 868,274 positive (2020: EUR 2,332,756 negative).

The Group managed a significant positive turnaround of EUR 3,670,749 in its total comprehensive income from a loss of EUR 3,830,459 in 2020 to despite the loss, a near break-even position of EUR 159,710 in 2021. A significant achievement considering the challenging economic climate the Group was operating in.

The Group continued with its deployment strategy into new investments, while maintained sufficient liquidity to meet short-term liabilities including the liabilities for leases under IFRS 16. Applying the cash ratio as a measurement of the Group’s liquidity, (total cash and cash equivalents, including marketable securities to its current liabilities) the Group has a cash ratio of 1.26x. This demonstrates that the Group has the ability to meet the liquidity requirements of its short-term liabilities.

REAL ESTATE DEVELOPMENTS, INVESTMENTS AND SERVICES
The Von der Heyden Group’s proven track record continues to be a pillar of legacy with a reputation of delivering landmark developments in prominent cities such as Munich and Poznań.

Von der Heyden Group’s Real estate development arm remains the principal activity of our Group, fueling our growth ambitions and supporting the Group’s diversification strategy.  Over our 33-year history, the Von der Heyden development brand has been successful in delivering sizeable high-quality projects across Europe that not only provide substantial financial returns but also contribute to the well-being of the communities in which we operate, which is and  remains a core value of our Group. – Group’s Chairman  & Founder Sven von der Heyden 

The Andersia Silver project is the current flagship commercial A Class Building investment of the Group to be completed over the next three years. Subsequent to the excavation and underground completion during 2021, the projected EUR 110 million investment is due to commence its above-ground civil works phase imminently after the successful financing from a consortium of three reputable banks in Poland in March of this year. Andersia Silver will complete the what Poznań, Poland’s cityscape is today: a community-oriented bustling A-Class financial centre that offers a unique opportunity for businesses to claim a spot in one of the major thoroughfares of the city. This new tower will be the highest building in town, a 40,000 sqm of prominent office and commercial space spread over 25 above-ground floors. The fourth phase of this project will conclude a highly regarded 25-year public-private partnership with the City of Poznań.

The Group’s trusted reputation in generating significant returns in new and emerging communities has enabled the Group to enter three new markets including  Algarve, Portugal, Reževići, Montenegro and an investment in the renovation of two luxury Villas in Tuscany, Italy with another one planned in Menorca, Spain.

HOTEL ACCOMMODATION AND CATERING
As the Groups’ hospitality subsidiary continues to focus into more profitable and upmarket divisions, the revenue increased by 11% over 2021 to EUR 7,269,136 (2020: EUR 6,525,526), also surpassing by 8% the forecasts for the year of EUR 6,729,607.  Given the arduous economic conditions caused by the continuing global pandemic, such a result is highly positive on this segment.

Correspondingly, the Catering segment also saw significant improvements, with an increase of 25% in sales to EUR 2,234,564 (2020: 1,788,830). This success is synonymous with the growth of Hammett’s Collection as the Group continues to expand its partnership in its fourth restaurant brand in Malta.

ASSET MANAGEMENT
Another significant development in 2021 for the Group is the licensing of a special purpose vehicle by the Bank of Italy to acquire asset backed credits on the Italian market. This vehicle allows the Group to issue interest or dividend earning investment instruments that can be sold to investors to fund the acquisition of these credits or finance such acquisition through specialised banks.

The Group already acquired a block of credits, where the strategy is to expand this business through the acquisition of 2 to 3 block of credits a year and to continue to build a structure and network that enables the Group to identify interesting investment opportunities.

The Group suspended the Ukraine Asset Management Company operations in Ukraine following the Russian invasion. The Group had not committed to any real estate transactions in Ukraine and will only pursue this venture once Ukrainian sovereign integrity and stability is restored.  The Group is on the other hand taking several humanitarian initiatives to support vulnerable expecting mothers through their safe reallocation to Poland, as well as contributing medical supplies to Kyiv’s largest children hospital.

In over thirty years in the varied markets and sectors in which we operate and continue to operate, our geographical diversity has demonstrated the power of flexibility to adapt and change strategy in an ever-changing climate. Whilst we aim to use this strength to achieve high stabilized financial returns, our vision continues to align with our own and our shareholders’ corporate, social, and environmental sustainability expectations. – Group’s CEO Bob Rottinghuis

PRIVATE EQUITY, VENTURE CAPITAL AND CAPITAL MARKETS INVESTMENTS
The strong liquidity position maintained will allow the Group to continue financing its investments and enable it to seize new opportunities that may arise in the future to expand its existing portfolio of private equity and venture capital investments as well as selective capital markets instruments to generate stable returns on its excess working capital.

The Group looks forward for 2022 with reinvigorated optimism despite the ongoing challenges brought about by inflationary pressures, the war in Ukraine, the remaining effects of the COVID-19 pandemic and other external pressures. The Board of Directors would like to express their gratitude to the Group’s employees and business partners for their continuing support and contribution to its success.

TIH FS 2021 PRESS RELEASE

Von der Heyden Group announces the appointment of Anuschka von der Heyden as Head of Sustainability

The Von der Heyden Group is pleased to announce the appointment of Anuschka von der Heyden as Head of Sustainability effective on the 1st July 2022. This newly created role reflects the Group’s deep-seated commitments on climate change and ESG.

Joining the family business in a time of further expansion into new markets, Anuschka will lead the development and implementation of the Group’s ESG strategy. This appointment also aligns with the Group’s vision which aims to incorporate sustainable principles across its operations.

Anuschka von der Heyden said, “For quite some time, I have been seeking a role directly involving me in positive change. My aim is to create and execute strategies that will help the Group become more sustainable on both environmental and social levels. Our future depends on fragile ecosystems, and it is for us to own up to the impacts of our actions. This is particularly relevant to our expanding operations in the tourism and experiential industries. Our vision is to preserve and create value for today’s generations and tomorrow’s.”

Anuschka von der Heyden graduated from the University of Arts in London with a first-class honours degree and comes to the Group following a five-year stint in marketing and PR in London where she worked on several household brands and stock listed multinationals.

Bob Rottinghuis, Chief Executive Officer for the Group commented: “The Group’s ESG programme is a key pillar of our growth strategy. I am certain that Anuschka’s creativity and drive will take us beyond economic success and help us strengthen our ties to the international communities in which we operate and deepen our commitment to ESG”.

In the coming years, the Group will be taking measures to reduce its carbon footprint and engage in green energy business opportunities.

The Von der Heyden Group warmly welcomes Anuschka aboard and wishes her all the success and fulfilment in this key role in the Group.

Von der Heyden Group Investor Presentation 2022

Today, our management held its investor and broker presentation at one of its hotels, Cugó Gran Macina Grand Harbour in Malta. It was exciting to present the results for FY21, which denote a solid asset position at 133.5m, a gearing ratio at 56.5%, and a strong liquidity ratio of 1.95x.

Chairman Sven von der Heyden, Managing Director Javier Errejón Sainz de la Maza, and Executive Director Tonio Fenech presented the outlook and pipeline for the next four years.

New developments and investments are spread across prominent international locations, including Malta and the Group’s most recent A-Class commercial building Andersia Silver, Poznań’s planned highest A-Class building with LEED Gold level certification.

VDHGF Investor Presentation 13 07 2022

Von der Heyden Group joins 191 countries for World Clean-Up Day

Von der Heyden Group and its subsidiaries Von der Heyden Yachting, Cugó Gran, and Hammett’s Collection joined forces with Camper & Nicholson’s Grand Harbour Marina for World Clean-up Day, covering the iconic marina in the three cities and around fort St. Angelo.

The entities participated in the global initiative that unites millions of volunteers, governments, and organisations in 191 countries to tackle the global waste problem and build a sustainable world. The teams cleaned the foreshore of Birgu, collecting over 50 bags of debris, micro-plastics, cigarette butts, and trash from around the marina on land and at sea that would have otherwise polluted the Grand Harbour’s seabed.

Head of Sustainability Anuschka von der Heyden commented, ‘We are very proud and grateful to our business and local community that helped tackle the global waste crisis in this majestic location. Such initiatives aren’t just about a clean-up but help raise awareness of the importance of a clean environment and how this is vital to a community’s livelihood in all imaginable aspects.’

Von der Heyden Group celebrates the Cornerstone Ceremony of Andersia Silver, Poznań’s highest Skyscraper

Von der Heyden Group has commemorated the start of the above-ground works of Andersia Silver, Poznań, Poland by laying the first stone of its 25 above-ground floors during an inaugural ceremony. The Group’s flagship project, a 40,000 sqm A-class office tower having an investment value of over EUR 105 million, has secured bank financing as well as 10% of its office tenancy in pre-leases ahead of its construction.

The 116 m high skyscraper, Poznań’s highest building after Andersia Tower (105,2 m) is being developed through a joint venture company between the Von der Heyden Group and the City of Poznań with PORR as international and leading general contractor. The ceremony was hosted by Chairman and Founder of the Von der Heyden Group, Sven von der Heyden, Poznań’s Vi-ce Mayor Mariusz Wiśniewski, Managing Director of the Group’s Development arm in Poland, Adam Trybusz and PORR’s CEO Mr. Karl-Heinz Strauss.

The finalization Andersia Silver’s core construction to be finalized in 2023 marks over a quarter of a century of the Von der Heyden Group’s development and co-investor partnership project with the City of Poznań after Poznań Financial Center, Andersia Tower and Andersia Business Center, completed in 2001, 2007 and 2012 respectively.

This will be the fourth and final phase of Von der Heyden Group’s Anders Square project, establishing a reputation of timely and successful delivery of award-winning projects that have shaped the landscape of the city.

“The start of the above ground works of the Andersia Silver project marks the final addition to Anders Square. This state-of-the-art smart building will be designed to the highest standards and ESG solutions, making it a building of tomorrow for a world in transition. For more than a quarter of a century we have strived to achieve what Poznań’s cityscape is today: A bustling, community-oriented location with an A-class tenant structure and a unique opportunity for businesses to claim a spot on one of the major thoroughfares in the city.”- Sven von der Heyden Chairman & Founder of the Von der Heyden Group.

Andersia Silver is designed for gold-level LEED certification and ESG-compliant solutions that will include photovoltaic cells on the facade of the building and electric vehicle charging stations in the parking lots.

Poznań is the fifth-largest city in Poland, a centre of trade, located between Warsaw and Berlin with a metropolitan area and population of around 1.1 million. The Poznań office market has shown resilience over the past years both in terms of low vacancy rates and new office take up, proving itself to be one of the best performing regional cities in Poland.

 

 

Von der Heyden Group Finance plc launches ten-year €35 million bond at 5% coupon

Von der Heyden Group Finance plc was granted approval by the Malta Financial Services Authority for the listing of a new ten-year €35 million bond issue with an annual interest rate of 5% on the Official List of the Malta Stock Exchange.

The new unsecured bonds, having a nominal value of €100 per bond issued at par, are guaranteed by the Group’s parent company, Timan Investments Holdings Limited.

The proceeds from this new bond issue will be used for the redemption of the previous 2017 issuance of €25 million 4.4% unsecured bonds due to mature in 2024, subject to the early redemption of the said maturing bonds to be placed for the approval of the holders thereof. The remaining proceeds will be on-lent to the guarantor, Timan Investments Holdings Ltd for the part-financing of the Andersia Silver project, and for general corporate funding.

The company will be giving preference to the present bondholders of the €25 million 4.4% unsecured bonds 2024 the €25 million dedicated for the roll-over while €10 million will be available for subscription by new investors. Any balance from the new Bonds not subscribed to by existing bondholders shall be offered for subscription by authorised financial intermediaries through an intermediaries’ offer.

Andersia Silver, the Group’s flagship project, a 40,000 sqm A-class office tower having an investment value of over €105 million, has secured bank financing as well as 10% of its office tenancy in preleases ahead of its construction. The 116m high skyscraper will be Poznań’s highest building after its Andersia Tower (105,2 m) being developed through a joint venture company between the Von der Heyden Group and the City of Poznań.

Applications will be made available to preferred applicants on the 1st November and through an intermediaries offer from the 18th November. Subscriptions will close on 2nd December, or earlier if the bond issue is over-subscribed. The minimum subscription amount is €2,000 and in multiples of €100 thereafter.

The bonds to be issued are expected to be admitted to the Official List of the Malta Stock Exchange on 16th December and trading is expected to commence on the 19th December.

As an issuer of debt securities listed on the Malta Stock Exchange, Von der Heyden Group Finance plc, is subject to the Capital Markets Rules issued by the Malta Financial Services Authority.

LINK TO PROSPECTUS: https://vonderheydengroup.com/e35m-5-2032/