“Situation is precarious”: Ghelamco under heavy pressure due to expiring Polish bond of 57 million euros

It’s already D-day, or better G-day, for Paul Gheysens (72) and his real estate empire Ghelamco. Last year the company had to go to great lengths to repay a Belgian bond on time. Now a similar scenario is happening in Poland. By today at the latest, Ghelamco must cough up almost 57 million euros for a maturing bond loan, an amount that it does not simply have available. How did it come to this?

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