28th Aug 2007 15:24
Engel East Europe N.V.28 August 2007 Engel East Europe -A/Stable credit Rating TUESDAY, 28 August 2007 - Engel East Europe N.V., the residential propertydeveloper focused on Central and Eastern Europe, announces that it has beengranted a preliminary credit rating from The Israel Securities Rating CompanyLtd. ("Maalot"), a Standard & Poor's affiliate, of "A/Stable" for a Bond Seriesof up to €50 million. Contingent upon favourable market conditions, the Companyintends to raise money through a bond offering for the purpose of purchasingadditional land and enabling future growth. ENDS Enquiries:Engel East Europe N.V.Eitan Padan +972 (9) 970 7004Nir Netzer +972 (9) 970 7020 Dawnay, Day Corporate Finance Limited +44 (0) 20 7509 4570Sandy JamiesonAlex Stanbury Bankside Consultants Limited +44 (0) 20 7367 8870Simon Bloomfield Notes to editors Engel East Europe is an international residential property developerincorporated in The Netherlands. The Company operates in Central and EasternEurope (the "CEE Region") and has various developments in Hungary, the CzechRepublic, Poland, Bulgaria, Romania and Serbia. The Company is currentlyinvolved in the development of several thousand residential units and is innegotiations to purchase land for the development of additional projectsthroughout the CEE Region. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Kimberly Enterprises