alstria office REIT-AG

Capital/Financing Update • Sep 10, 2013

News Details

Ad-hoc | 10 September 2013 16:21

alstria office REIT-AG: alstria successfully refinances syndicated loan

alstria office REIT-AG / Key word(s): Miscellaneous

10.09.2013 16:21

Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP - a company of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

---

Ad-hoc announcement §15 WpHG

alstria successfully refinances syndicated loan

• alstria replaces syndicated loan and takes advantage of attractive market
  conditions

• New 7-year loan of EUR 544 m with four banks arranged by UniCredit

• Average cost of debt on the corporate level will drop to around 3.4% from
  mid-2015

• Long-term leases and average debt maturity of 5.6 years provide high
  visibility on cash flows and dividends for the next years

Hamburg, September 10, 2013 - alstria office REIT-AG (symbol: AOX, ISIN:
DE000A0LD2U1), the leading German office REIT, announces the early
refinancing of its main corporate credit facility.

New 7-year loan of EUR 544 m
Today alstria has signed a credit agreement for the refinancing of its
syndicated loan amounting to EUR 544 m, replacing the previous facility,
which was due to mature as of July 20, 2015. The early refinancing allows
alstria to benefit from the attractive financing environment and
significantly improves the overall debt maturity profile of the Company.
Including the convertible bond issued in June 2013 alstria's average debt
maturity more than doubles from 2.5 years to 5.6 years. The new loan was
arranged by UniCredit Bank AG and underwritten by UniCredit Bank AG,
Berlin-Hannoversche Hypothekenbank AG, HSH Nordbank AG and Helaba
Landesbank Hessen-Thüringen.

Taking alstria's long-term lease profile into account (WAULT: 6.7 years),
the new credit facility significantly improves the visibility of alstria's
cash flow for the next years. With the new syndicated loan in place alstria
has no major refinancing needs before mid-2018.

Average cost of debt will drop to 3.4% from mid-2015
The successful refinancing will reduce alstria's cost of debt on its main
credit facility starting mid-2015 to approximately 3.7% from 4.3% today.
The existing hedges (EURIBOR swap @2.99%, maturity mid-2015) will not be
terminated and therefore the full benefit of the lower interest rate will
kick in by mid-2015. In order to maintain the flexibility needed to allow
for proper capital recycling, around 30% of the new loan will remain
floating, while 70% of the exposure will be fixed. Based on alstria's
current financial structure the total costs of debt on the corporate level
(based on the current swap curve) will drop to approximately 3.4% from
mid-2015. The Company intends to use any additional profits from reduced
financing costs to further reduce its leverage. For the financial year 2014
the average cost of debt on the corporate level is expected to be at around
3.6%.

Contact:
Ralf Dibbern, IR/PR
Phone: +49 (0) 40 226 341 329
Email: rdibbern@alstria.de

More information on:
www.alstria.com
www.alstria.blogspot.com
www.twitter.com/alstria_REIT

About alstria:
alstria office REIT-AG is an internally managed Real Estate Investment
Trust (REIT) focused solely on acquiring, owning and managing office real
estate in Germany. alstria was founded in January 2006 and was converted
into the first German REIT in October 2007. Its headquarters are in
Hamburg. The Company owns a diversified portfolio of properties across
attractive German office real estate markets. As of June 30, 2013 the
portfolio comprises 78 properties with an aggregate lettable space of
903,000 sqm and is valued at approximately EUR 1.6 bn. The alstria office
REIT-AG strategy is based on active asset and portfolio management as well
as on establishing and maintaining good relationships with key customers
and decision makers. alstria focuses on long-term real estate value
creation.

Disclaimer:
This release constitutes neither an offer to sell nor a solicitation of an
offer to buy any shares. As far as this press release contains
forward-looking statements with respect to the business, financial
condition and results of operations of alstria office REIT-AG (alstria),
these statements are based on current expectations or beliefs of alstria's
management. These forward-looking statements are subject to a number of
risks and uncertainties that could cause actual results or performance of
the Company to differ materially from those reflected in such
forward-looking statements. Apart from other factors not mentioned here,
differences could occur as a result of changes in the overall economic
situation and the competitive environment - especially in the core business
segments and markets of alstria. Also, the development of the financial
markets and changes in national as well as international provisions
particularly in the field of tax legislation and financial reporting
standards could have an effect. Terrorist attacks and their consequences
could increase the likelihood and the extent of differences. alstria
undertakes no obligation to publicly release any revisions or updates to
these forward-looking statements to reflect events or circumstances after
the date hereof or to reflect the occurrence of unanticipated events.

10.09.2013 DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de

---

Language: English
Company: alstria office REIT-AG
Bäckerbreitergang 75
20355 Hamburg
Germany
Phone: 040-226 341 300
Fax: 040-226 341 310
E-mail: info@alstria.de
Internet: http://www.alstria.de
ISIN: DE000A0LD2U1
WKN: A0LD2U
Indices: SDAX, EPRA, German REIT Index
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Hamburg, München, Stuttgart

End of Announcement DGAP News-Service

---