SPGroup: bonds for a water park in Čestlice

As reported by the MFD daily, SPGroup wishes to issue bonds worth CZK 150 to 200 million. The revenue should be used to finance a water park in Čestlice, near Prague, where the company has invested over four million Czech crowns. The financial management of similar facilities is considered problematic in the Czech Republic, but SPGroup claims that the park does not generate any losses. Originally, the property developer anticipated the city hall or a city district to participate, but this expectation failed. The group’s boss Pavel Sehnal today admits the sale of a share of up to 25% in the water park.