PIE Events
- German Property Breakfast
14 February 2012
Stockholm
- Distressed Property Breakfast
22 February 2012
London
- Central and Eastern Europe Real Estate Conference
03-04 May 2012
Vienna, Austria
Orco, Colony Capital modify agreement, sticking over bond debt
Struggling listed Czech property developer and investor Orco and US private equity firm Colony Capital have concluded after two months of review that Orco should finalise restructuring of its bond debt prior to any re-capitalisation. To preserve the rights of existing shareholders, they modified terms of their end-April agreement. A new accord sees ColOG, a firm controlled by funds advised by Colony, granted warrants to subscribe to an issue of Orco shares at e7 each, amounting to new capital of about e80m.