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Vonovia SE: Vonovia successfully places promissory note loans

Vonovia SE / Key word(s): Miscellaneous
Vonovia SE: Vonovia successfully places promissory note loans

16.02.2022 / 14:39
The issuer is solely responsible for the content of this announcement.


Vonovia successfully places promissory note loans totalling 1 billion euros

- Average weighted term of loans: 7.65 years

- High demand: Promissory note volume was doubled from €500 million to €1 billion

- Investors mainly include Sparkasse banks, regional banks and foreign commercial banks

- Philip Grosse, CFO: "Loans help to increase diversification while further strengthening the financing base"


Bochum, 16 February 2022 - Today, Vonovia SE successfully completed its promissory note transaction launched on 10 January this year. It means that, after numerous bilateral pilot projects on promissory notes, Vonovia has successfully placed a widely marketed transaction. The original volume was increased from €500 million to €1 billion. The weighted average term is 7.65 years, with a weighted average interest rate of 1.13%.

Over 85 investors have subscribed to the full range of tranches on offer, ranging from 5 to 30 years (both fixed and floating). Vonovia intends to also use the proceeds to fully repay the bridge financing that the housing company had taken out to finance the acquisition of Deutsche Wohnen.

"The promissory note loans help to increase diversification of our debt instruments and are therefore adding significant strength to our financing base. This broad foundation also gives us security for our future cash flow," says Philip Grosse, CFO. "The high level of investor approval in a volatile market environment shows that we are in an outstanding position on the borrowed capital side." This has been Grosse's first major transaction in his role as CFO at Vonovia.

The promissory note loans primarily address Sparkasse banks, regional banks, foreign commercial banks and institutional investors interested in long-term illiquid products. Grosse also explains another benefit of the loans: "This form of transaction is extremely robust while carrying a highly attractive price tag in the current environment which is so volatile. The high demand encourages us to carry out further transactions of this kind from now on."

Once the entire process has been completed, all the relevant issue details will be available on Vonovia's Investor Relations website, in the Creditor Relations subsection. (https://investors.vonovia.de/).

2022 Financial Calendar:

18 March 2022:
Annual Report 2021
29 April 2022: Annual General Meeting - online
5 May 2022: Interim Statement for the First Three Months of 2022
3 August 2022: Interim Statement for the First Half of 2022
4 November 2022: Interim Statement for the First Nine Months of 2022

 

About Vonovia

Vonovia SE is Europe's leading private residential real estate company. Vonovia currently owns around 568,000 residential units (Deutsche Wohnen included) in all attractive cities and regions in Germany, Sweden and Austria. It also manages around 71,500 apartments. Its portfolio is worth approximately € 95.4 billion. As a modern service provider, Vonovia focuses on customer orientation and tenant satisfaction. Offering tenants affordable, attractive and livable homes is a prerequisite for the company's successful development. Therefore, Vonovia makes long-term investments in the maintenance, modernization and senior-friendly conversion of its properties. The company is also creating more and more new apartments by realizing infill developments and adding to existing buildings.

The company, which is based in Bochum, has been listed on the stock exchange since 2013. Since September 2015 Vonovia has been a constituent in the DAX 30 (today DAX 40) and since September 2020 in the EURO STOXX 50. Vonovia SE is also a constituent of additional national and international indices, including DAX 50 ESG, Dow Jones Sustainability Index Europe, STOXX Global ESG Leaders, EURO STOXX ESG Leaders 50, STOXX Europe ESG Leaders 50, FTSE EPRA/NAREIT Developed Europe, and GPR 250 World. Vonovia has a workforce of more than 16,000 employees (Deutsche Wohnen included).

Additional Information:
Approval: Regulated Market/Prime Standard, Frankfurt Stock Exchange
ISIN: DE000A1ML7J1
WKN: A1ML7J
Common code: 094567408
Registered headquarters of Vonovia SE: Bochum, Germany, Bochum Local Court, HRB 16879
Business address of Vonovia SE: Universitaetsstrasse 133, 44803 Bochum, Germany

This press release has been issued by Vonovia SE and/or its subsidiaries solely for information purposes. This press release may contain statements, assumptions, opinions and predictions about the anticipated future development of Vonovia ("forward-looking statements") that reproduce various assumptions regarding, e.g., results derived from Vonovia's current business or from publicly available sources that have not been subject to an independent audit or in-depth evaluation by Vonovia and that may turn out to be incorrect at a later stage. All forward-looking statements express current expectations based on the current business plan and various other assumptions and therefore come with risks and uncertainties that are not insignificant. All forward-looking statements should not therefore be taken as a guarantee for future performance or results and, furthermore, do not necessarily constitute exact indicators that the forecast results will be achieved. All forward-looking statements relate solely to the day on which this press release was issued to its recipients. It is the responsibility of the recipients of this press release to conduct a more detailed analysis of the validity of forward-looking statements and the underlying assumptions. Vonovia accepts no responsibility for any direct or indirect damages or losses or subsequent damages or losses, as well as penalties that the recipients may incur by using the press release, its contents and, in particular, all forward-looking statements or in any other way, as far as this is legally permissible. Vonovia does not provide any guarantees or assurances (either explicitly or implicitly) in respect of the information contained in this press release. Vonovia is not obliged to update or correct the information, forward-looking statements or conclusions drawn in this press release or to include subsequent events or circumstances or to report inaccuracies that become known after the date of this press release.
 



16.02.2022 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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Language: English
Company: Vonovia SE
Universitätsstraße 133
44803 Bochum
Germany
Phone: +49 234 314 1609
Fax: +49 234 314 2995
E-mail: investorrelations@vonovia.de
Internet: www.vonovia.de
ISIN: DE000A1ML7J1
WKN: A1ML7J
Indices: DAX
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange
EQS News ID: 1281363

 
End of News DGAP News Service

1281363  16.02.2022 

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