Nef’s 318 million TL bond payment

Nef, the leader in property sales for the past four years, informed the Public Disclosure Platform (KAP) of its seventh bond coupon payment of 50 million TL.

With this latest payment, Nef, which has a total of 275 million TL in bonds issued, has now repaid 318 million TL in bonds and coupon payments. Nef has the highest credit score in the sector, with an A+ rating, and on 3 July 2019 informed KAP of its seventh bond coupon payment of 50 million TL: “on 3 July 2019, our company made its seventh bond coupon payment, which has a variable rate every three months (ISIN: TRTIMGE1918), a nominal value of 50 million TL and a 728-day validity. The sale was presented to qualified investors without going public, alongside Yapi Kredi Yatirim Menkul Degerler A.S. The related coupon payment, which will be made on 2 October 2019, has an interest rate of 5.59%.”

Nef, the only real estate company that has issued bonds and which has been part of the bonds market for the last four years, has now made a total payment of 318 million TL, thanks last week’s coupon payment. Following being given an A+ credit rating, the highest ever rating given in the sector by international independent valuation company JCR, and a paid-up capital increase to 407 million TL, Nef has been attracting attention. Its partnership with the European Bank for Reconstruction and Development (EBRD) is also turning heads.

The company raised its paid-up capital from 52.39 million TL to 459.17 million TL last year, and this increase has raised the company’s own funds to one billion TL. Nef is the first in the sector to guarantee project delivery with Building Completion Insurance for Nef Reserve Kandilli and Nef Reserve Golkoy.