6 October 2016
Opening of the trading session Thursday, 6 October, 2016
Welcome of FOURLIS Group
Listing of the Housemarket company Bonds in the Main Market

The Athens Stock Exchange welcomed FOURLIS Group, in the ceremony of the Opening of the trading session of Athens Stock Exchange on Thursday, 6 October, 2016, on the occasion of listing to trading in the Main Market of Athens Stock Exchange, of the Corporate Bond of the company of Housemarket S.A. Group.

40,000,000 bonds were issued and are listed, at a buying price € 1. The issue was covered through Public Offering. Approximately 32.50% of the total of the issued bonds were allocated to Private Investors while 67.50% to Qualified Investors.

EUROXX SECURITIES S.A. was Issuance Advisor while the NATIONAL BANK OF GREECE S.A., the INVESTMENT BANK OF GREECE, EUROXX SECURITIES SA, and PANTELAKIS SECURITIES were Contractors of the Public Offering.

Briefly, the data of the issuance of the Bond Loan are as follows: Common Bond Loan, without collateral, loan term 5 years, bonds number 40,000,000, nominal value € 1 per bond, issue price € 1 per bond, Interest rate 5.00% fixed on a yearly basis (360/Actual) and credit rating grade BB. More information on the issuance can be found on the Athens Stock Exchange website at the link.

Mr. Vassilis Fourlis, Chairman of the BoD of FOURLIS Group, declared the Opening of the trading session of Athens Stock Exchange.

During the ceremony of the Opening of the trading session, the Chairman of the Group  of Athens Stock Exchange Mr. Iakovos Georganas, stressed:

"It is a great pleasure to welcome today, in the Athens Stock Exchange, the successful issuance by Housemarket, a member of FOURLIS Group that has been a Listed Company in the Stock Exchange for years.

We consider this listing, as a start of the effort to create, in Greece, Corporate Bonds Market. This has been achieved to a large extent in other competitor countries, such as Spain.

It is estimated that the FOURLIS Group initiative will soon be followed by other Greek companies.

After the New Year we consider that the conditions that will further assist this activity will have been formed.
It can reasonably be expected from the New Year that the market conditions will improve for the interest rates to adjust to lower levels. This is something that applies in other competitor countries, such as Portugal and Italy. A basic condition for this to happen, is the implementation of the agreed program with the European Union.

We believe that the initiatives that will follow the current one, will have easier access to lower interest rates. This does not mean that those who dare first, such as FOURLIS Group, will be at a disadvantage. For lower interest rates, assist in the formation of successive issuances that allow the formation of an improved average interest rate, which, in turn, creates a safe and competitive financial basis.

The abolition of bank intermediation, regarding sharing the credit risk, facilitates so that this direct connection and cooperation of investors and issuers is beneficial and measurable for both".

On the occasion of the admission to trading of the bonds of the company, the CEO of Athens Stock Exchange Mr. Socrates Lazaridis, stressed: "We welcome today FOURLIS Group for the issuance of the Corporate Bond by Housemarket company.

This listing exploits the potential of Greek Capital Market for business financing through corporate bonds and, at the same time, it contributes to extending the investors' options. The diversification achieved, in conjunction with the activity of market makers that were approved, creates conditions of liquidity in the secondary market. I should always remind you that the valuation of any financial instrument, as simple as it may be, follows certain techniques.

The specific elements of the current listing is the coverage of the issuance of the Corporate Bond with a Public Bid, the utilization of the Electronic Offering Book (E.O.B.) that improves, both functionally and in terms of time and efficiency, the relevant procedure as well as the participation of Private Investors by 32.50%".

The Chairman of the Hellenic Capital Market Commission Mr. Charalampos Gkotsis, on the listing of the corporate bond, stated: "An important alternative instrument of direct fundraising from the market for our businesses, is a fact. The acceptance, by the investors, of FOURLIS bond, showed that the interest is high, and that this new market will have bright prospects. The objective of all the players now will be to multiply these efforts, for the market to acquire power and depth."

The Chairman of FOURLIS Group Mr. Vassilis Fourlis, stated in the light of today's event: "Today is a very important day, not only for FOURLIS Group, but I believe, generally, for entrepreneurship in Greece. We are inaugurating, implementing a new way of funding of Greek companies. It is known that in the last decade and particularly after 2008, the companies - in Europe and elsewhere - apart from the typical bank lending, also seek and use alternative forms of financing.

In the Greece of the crisis, with the increased liquidity problems, the market of corporate bonds of Greek law may constitute such an alternative. It can enable dynamic companies that want to grow and invest, to do so.

Housemarket, of FOURLIS Group, is one such company. So we proceeded to issue a bonded loan of EUR 40 million through public offering, of 5-year-term and 5% interest. The issuance was a success and was oversubscribed by about 25%".

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Photos of the event
Βassilis Fourlis Chairman of the BoD of FOURLIS Group

About Athens Exchange Group

The Athens Stock Exchange since its establishment in 1876, consistently participate in the financial and business developments in the country.

Athens Exchange Group (ATHEX Group), provides support to the Greek Capital Market. ATHEX Group operates the organized Equities and Derivatives markets, the alternative market and performs clearing and settlement of trades.

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