Berlin, February 16, 2018 – ACCENTRO Real Estate AG (WKN: A0KFKB, ISIN: DE000A0KFKB3), Berlin, a leader in residential privatization in Germany, announces the early redemption of its 2014/2019 convertible bond issued in 2014 (WKN: A1YC4S, ISIN: DE000A1YC4S6). Full repayment of the outstanding principal amount of 414,737.50 euros, plus accrued interest, will take place on March 27, 2018, in accordance with the bond terms.
ACCENTRO has terminated the bonds early due to the immateriality of the outstanding principal amount. With a coupon of 6.25 percent, the convertible bond was the Group’s most expensive financing instrument.
Jacopo Mingazzini, Member of the Executive Board of ACCENTRO Real Estate AG, commented: “Thanks to the conversions already completed in 2018 and the early termination of the convertible bond, which carried a relatively high coupon of 6.25 percent, we will further improve our financing structure and our equity ratio. This contributes to ACCENTRO’s continued positive development.”
ACCENTRO now has the financial flexibility that the company will leverage for further growth. On January 24, 2018, ACCENTRO announced that a corporate bond in the amount of 100 million euros had been successfully placed within a few hours. The company is currently evaluating acquisition opportunities in German metropolitan regions to further expand its privatization portfolio.
About ACCENTRO Real Estate AG
ACCENTRO Real Estate AG is a residential real estate investor and the market leader in residential privatization in Germany. As of December 31, 2020, its real estate portfolio comprised approximately 5,200 units. In addition to Berlin, its regional focus includes major cities and metropolitan areas in eastern Germany, as well as the Rhine-Ruhr metropolitan region and Bavaria. ACCENTRO’s business activities encompass four core areas. These include the tenant-oriented sale of apartments to owner-occupiers and private investors, the sale of real estate portfolios to institutional investors, the development and management of its own real estate portfolio, and the marketing of apartments for property owners, investors, and project developers. The shares of ACCENTRO Real Estate AG are listed on the Prime Standard segment of the Frankfurt Stock Exchange (WKN: A0KFKB, ISIN: DE000A0KFKB3). investors.accentro.de
Investor Relations Contact:
Thomas Eisenlohr
ACCENTRO Real Estate AG
Kantstraße 44/45
10625 Berlin
Email: eisenlohr@accentro.de
Phone: +49 (0)30 88 71 81 272