Deutsche Annington issues hybrid capital with a total nominal value of EUR 1bn
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- Transaction is the first investment-grade rated (BBB-) hybrid in the European real-estate sector
- Transaction significantly oversubscribed
Bochum / 11 December 2014 – Deutsche Annington Immobilien SE ('Deutsche Annington') yesterday successfully launched a EUR 1bn perpetual hybrid bond with a coupon of 4% and a first call date in 2021.
JP Morgan acted as sole book runner. Both existing and new investors showed great interest and the bond was significantly oversubscribed.
The bond is structured to receive 100% equity accounting under IFRS and 7-years of 50% equity credit from S&P.
“This very successful placement reflects Deutsche Annington’s strong credit quality and our existing strong access to international capital markets,” said Dr. A. Stefan Kirsten, CFO of Deutsche Annington. “It also clearly underlines that investors view our planned combination with Gagfah as positively as we do.”
After issuing the first rated hybrid bond in the real estate sector in April this year, this transaction is the first investment-grade rated (BBB-) hybrid in the sector in Europe and therefore sets another milestone in the market.
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About Deutsche Annington
Deutsche Annington is Germany’s leading private-sector residential real estate company both in terms of portfolio value and the number of units owned. The Portfolio of Deutsche Annington comprises around 210,000 residential units. The company is present throughout Germany. Deutsche Annington has its headquarters in Düsseldorf and employs more than 3,400 people.
Additional information on Deutsche Annington’s shares:
Approval: Regulated Market / Prime Standard, Frankfurt Stock Exchange
Common code 094567408
Registered office of Deutsche Annington: Münsterstrasse 248, 40470 Düsseldorf, Germany
Business address of Deutsche Annington: Philippstrasse 3, 44803 Bochum, Germany
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