Capital/Financing Update • Feb 11, 2014
Capital/Financing Update
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Corporate | 11 February 2014 11:21
GSW Immobilien AG: Notice of the outstanding convertible bonds of GSW Immobilien AG (ISIN DE000GSW1CB6) being redeemed early
GSW Immobilien AG / Key word(s): Bond
11.02.2014 / 11:21
Berlin, 11.02.2014 – GSW Immobilien AG resolved today to redeem early the convertible bonds in the total nominal amount of EUR 182.9 million which were issued by the company in November 2012 and will be maturing on 20 November 2019 (ISIN DE000GSW1CB6) (the ‘ Convertible Bonds ‘), to the extent that they are still outstanding, in accordance with sec. 4 (3) of the terms and conditions of the Convertible Bonds (the ‘ Bond Terms ‘) as of 13 March 2014.
Following the public takeover offer of Deutsche Wohnen AG, by which Deutsche Wohnen AG acquired approx. 91.05% of the share capital and voting rights of GSW Immobilien AG, Deutsche Wohnen AG in addition acquired the majority of the Convertible Bonds of the company in the total nominal amount of EUR 181 million and declared and exercised the right to conversion for those Convertible Bonds.
As a result of the exercise of conversion rights and the right to early redemption due to the change of control, the total nominal amount of the outstanding Convertible Bonds has been reduced and still amounts to EUR 1.4 million as of today. Accordingly, less than 1% of the total nominal amount of EUR 182.9 million of the Convertible Bonds issued is outstanding. In the event that the total nominal amount of the outstanding Convertible Bonds falls short of 15% of the total nominal amount of the issued Convertible Bonds, sec. 4 (3) of the Bond Terms provides for a right of the company to redeem early the outstanding Convertible Bonds.
On 13 March 2014 the Convertible Bonds still outstanding will be repaid in total at the nominal amount plus interest accrued by 13 March 2014, to the extent that the holders of the Convertible Bonds do not exercise their conversion right at the current conversion price of EUR 35.0855 per share by the expiry of 07 March 2014.
Further information regarding the Convertible Bonds is available on the website www.gsw.de under Investor Relations.
Contact
GSW Immobilien AG
Charlottenstraße 4, D-10969 Berlin
Investor Relations
René Bergmann
E-Mail: [email protected]
Tel.: +49. (0) 30. 25 34-1362
Fax: +49. (0) 30. 25 34-233 1960
End of Corporate News
11.02.2014 Dissemination of a Corporate News, transmitted by DGAP – a company of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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| Language: | English |
| Company: | GSW Immobilien AG |
| Charlottenstraße 4 | |
| 10969 Berlin | |
| Germany | |
| Phone: | 030 68 99 99 0 |
| Fax: | 030 68 99 99 999 |
| E-mail: | [email protected] |
| Internet: | www.gsw.de |
| ISIN: | DE000GSW1111 |
| WKN: | GSW111 |
| Listed: | Regulierter Markt in Berlin, Frankfurt (Prime Standard); Freiverkehr in Düsseldorf, Hamburg, Hannover, München, Stuttgart |
| End of News | DGAP News-Service |
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| 252017 11.02.2014 |
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