Berlin, March 31, 2017 – ACCENTRO Real Estate AG (WKN: A0KFKB, ISIN: DE000A0KFKB3), Berlin, issued a bond (ISIN DE000A1X3Q99 – WKN A1X3Q9) in November 2013 with a principal amount of EUR 10 million, maturing in November 2018 and bearing interest at 9.25% per annum. ACCENTRO has resolved to call all bonds early in accordance with Section 3(4) of the bond terms and conditions. Full repayment of the bond, with a total face value of EUR 10 million, will take place on June 26, 2017, at a price of 101.5% plus interest accrued on the face value through the repayment date. The early redemption improves the loan-to-value (LtV) ratio from 53.2% to 49.1%. In addition, the average cost of debt decreases by 0.45 percentage points to 2.65%. On a like-for-like basis, the Group’s annual interest expense is reduced by TEUR 925, which corresponds to 25.6%. “By prepaying the high-yield corporate bond, we are sustainably improving our financing structure and can use this as a basis to drive our further expansion,” says Jacopo Mingazzini, Member of the Executive Board of ACCENTRO Real Estate AG.
About ACCENTRO Real Estate AG
ACCENTRO Real Estate AG is a residential real estate investor and the market leader in housing 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 sale of apartments to owner-occupiers and private investors at rent-like prices, 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 of the Frankfurt Stock Exchange (WKN: A0KFKB, ISIN: DE000A0KFKB3). investors.accentro.de
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Thomas Eisenlohr
ACCENTRO Real Estate AG
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10625 Berlin
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Phone: +49 (0)30 88 71 81 272