PORR bonds

PORR starts into 2020 with successful EUR 150 million hybrid issue

In total, a nominal amount of around EUR 25.7 million was repurchased from the hybrid bond issued in 2017. At the same time, a new hybrid bond in the amount of EUR 150 million was placed with national and international institutional investors. The interest rate is fixed at 5.375 % lower than last issue due to high demand.

To the terms and conditions of the notes

PORR AG Green Finance Framework

Second Party Opinion - PORR Green Finance Framework

PORR AG successfully places a hybrid bond
Volume of EUR 125 million, indefinite maturity with an early redemption option after five years (hybrid bond), coupon 5.5% per annum, fixed rate until the First Call Date (6 February 2022)

To the terms and conditions of the notes

PORR AG successfully issues further corporate bonds – approval of security prospectus on 4 November 2013.
Volume of 50 million Euros, term: 5 years, coupon 6.25% p.a.

To the bond information

PORR has issued corporate bonds – approval of security prospectus on 12 November 2012.
Volume of 50 million Euros, term: 4 years, coupon 6.25 % p.a.

To the bond information

PORR successfully issued another corporate bond in 2010. The proceeds were earmarked for optimising the financing portfolio and improving PORR’s financial strength, repayment of existing financial obligations, extending the range of business activities and possible acquisitions in the course of geographic expansion.

The bond has a redemption period of five years and was issued in EUR. It was suitable for both private and institutional investors.

In November 2009 PORR took another step towards improving the capital and financing structure by issuing a corporate bond with a nominal value of EUR 100.0m. The bond is in EUR 500.0 denominations, has a redemption period of five years and a nominal interest rate of 6.0%. The solid reputation of the PORR Group and the high levels of trust that PORR enjoys among investors led to the successful issue and oversubscription of the bond.

In order to boost the financing structure still further, in December 2007, ABAP Beteiligungs Holding GmbH (today PORR Construction Holding GmbH) issued profit-participation rights for an unspecified length. Currently the total nominal value lies by EUR 40m and an initial rate of return is fixed at 6,66% per annum until 31^st December 2020. This is known as so-called hybrid capital, which is classified in the IFRS consolidated accounts as equity. This step resulted in the further diversification of financing sources.  

PORR simultaneously issued two new corporate bonds in the second quarter of 2006 in Austria and the Czech Republic. Demand for the corporate bonds was so great that even though the issue volume of the EUR bond was increased, allotment was still curtailed. The total volumes amounted to EUR 60m (rather than the originally planned EUR 50m) and CZK 200m. The CZK bond was also open to institutional investors outside of Austria. Both bonds had a five-year tenor, with a coupon rate of 5.625% and a six-month PRIBOR of +1.9 percent. 

As with the previous corporate bond issued by PORR in 2005, there was particularly high interest from private investors. These bonds were redeemed at par value on June 29th 2011.

PORR was one of just a few Austrian industrial firms to take the opportunity to issue convertible bonds. PORR’s first convertible bond was issued in 1973 and almost fully converted to preference shares at the end of the maturity period. The third and so far last convertible bond of PORR was listed on the Vienna Stock Exchange until the end of 2001 and was fully redeemed at par value