Capital/Financing Update • Jun 7, 2013
Capital/Financing Update
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Corporate | 7 June 2013 18:12
alstria office REIT-AG prices and successfully issues convertible bond
alstria office REIT-AG / Key word(s): Issue of Debt
07.06.2013 / 18:12
Press release
NOT FOR PUBLICATION, DISTRIBUTION OR RELEASE IN OR INTO THE UNITED STATES OF AMERICA, ITALY, CANADA, JAPAN, SOUTH AFRICA OR AUSTRALIA OR ANY JURISDICTION IN WHICH OFFERS OR SALES OF THE SECURITIES WOULD BE PROHIBITED BY APPLICABLE LAW
This announcement is an advertisement and not a prospectus and not an offer of securities for sale to U.S. persons or in any jurisdiction, including in or into the United States, Italy, Canada, Japan, South Africa or Australia or any jurisdiction in which offers or sales of the securities would be prohibited by applicable law. Neither this announcement nor anything contained herein shall form the basis of, or be relied upon in connection with, any offer or commitment whatsoever in any jurisdiction.
alstria office REIT-AG prices and successfully issues convertible bond
– Issue size: EUR 79.4 million
– Coupon: 2.75%
– Issuance was multiple times oversubscribed
Hamburg, June 7, 2013 – alstria office REIT-AG ( ‘alstria’ or ‘ the Company’ ) announces the final terms of its offering of EUR 79.4 million senior unsecured convertible bonds launched earlier today. The issuance was multiple times oversubscribed. The Company intends to use the proceeds of the offering for refinancing of existing debt and general corporate purposes. The convertible issue will improve the current maturity profile and contribute to the Company’s prudent balance sheet management policy.
The Bonds have a maturity of five years. The Bonds are issued and will be redeemed at 100% of their principal amount and the coupon was set at 2.75% p. a., payable quarterly in arrears. The initial conversion price was set at EUR 10.0710, representing a conversion premium of 15% above the reference share price of EUR 8.7574. Settlement for the convertible bonds is expected to take place on or around June 14, 2013.
The Company intends to apply for the inclusion of the Bonds to trading on the Open Market (Freiverkehr) of the Frankfurt Stock Exchange. However, settlement and closing of the Bond Offering is not conditional upon obtaining such inclusion to trading. BofA Merrill Lynch and J.P. Morgan acted as Joint Bookrunners and UniCredit Bank AG acted as Co-Bookrunner in relation to the transaction.
Disclaimer:
The contents of this announcement, which have been prepared by and are the sole responsibility of alstria office REIT-AG, have been approved by Merrill Lynch International, 2 King Edward Street, London EC1A 1HQ and J.P. Morgan Securities plc, 25 Bank Street, Canary Wharf, London E 14 5JP, United Kingdom solely for the purposes of section 21(2)(b) of the Financial Services and Markets Act 2000. The information contained in this announcement is for background purposes only and does not purport to be full or complete. No reliance may be placed for any purpose on the information contained in this announcement or its accuracy or completeness.
This announcement is not for publication or distribution, directly or indirectly, in or into the United States. The distribution of this announcement may be restricted by law in certain jurisdictions and persons into whose possession any document or other information referred to herein comes should inform themselves about and observe any such restriction. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction.
This announcement does not contain or constitute an offer of, or the solicitation of an offer to buy, shares or convertible bonds to any person in the United States, Italy, Australia, Canada, South Africa or Japan or in any jurisdiction to whom or in which such offer or solicitation is unlawful. The convertible bonds referred to herein and the shares to be delivered on conversion may not be offered or sold in the United States unless registered under the US Securities Act of 1933 (the ‘Securities Act’) or offered in a transaction exempt from, or not subject to, the registration requirements of the Securities Act. The offer and sale of the convertible bonds referred to herein and the shares to be delivered on conversion have not been and will not be registered under the Securities Act or under the applicable securities laws of Italy, Australia, Canada, South Africa or Japan. Subject to certain exceptions, the convertible bonds referred to herein and the shares to be delivered on conversion may not be offered or sold in Italy, Australia, Canada, South Africa or Japan or to, or for the account or benefit of, any national, resident or citizen of Italy, Australia, Canada, South Africa or Japan. There will be no public offer of the convertible bonds or the shares to be delivered on conversion in the United States, Italy, Australia, Canada, South Africa or Japan.
This announcement may include statements that are, or may be deemed to be, ‘forward-looking statements’. These forward-looking statements may be identified by the use of forward-looking terminology, including the terms ‘believes’, ‘estimates’, ‘plans’, ‘projects’, ‘anticipates’, ‘expects’, ‘intends’, ‘may’, ‘will’ or ‘should’ or, in each case, their negative or other variations or comparable terminology, or by discussions of strategy, plans, objectives, goals, future events or intentions. Forward-looking statements may and often do differ materially from actual results. Any forward-looking statements reflect the Company’s current view with respect to future events and are subject to risks relating to future events and other risks, uncertainties and assumptions relating to the Group’s business, results of operations, financial position, liquidity, prospects, growth or strategies. Forward-looking statements speak only as of the date they are made.
Each of alstria office REIT-AG, Merrill Lynch International and J.P. Morgan Securities plc and their respective affiliates expressly disclaims any obligation or undertaking to update, review or revise any forward looking statement contained in this announcement whether as a result of new information, future developments or otherwise.
No reliance may or should be placed by any person for any purposes whatsoever on the information contained in this announcement or on its completeness, accuracy or fairness. The information in this announcement is subject to change.
The date of admission of the convertible bonds and the shares issued upon conversion to trading may be influenced by things such as market conditions. There is no guarantee that admission will occur and you should not base your financial decisions on alstria office REIT-AG’s intentions in relation to admission at this stage. Acquiring investments to which this announcement relates may expose an investor to a significant risk of losing all of the amount invested. Persons considering making such investments should consult an authorised person specialising in advising on such investments. This announcement does not constitute a recommendation concerning the convertible bond offering. The value of shares can decrease as well as increase. Potential investors should consult a professional advisor as to the suitability of the convertible bonds offering for the person concerned.
Merrill Lynch International and J.P. Morgan Securities plc, each of which are authorised and regulated in the United Kingdom by the FSA, are acting exclusively for alstria office REIT-AG and no-one else in connection with the convertible bonds offering. They will not regard any other person as their respective clients in relation to the convertible bonds offering and will not be responsible to anyone other than alstria office REIT-AG for providing the protections afforded to their respective clients, nor for providing advice in relation to the convertible bonds offering, the contents of this announcement or any transaction, arrangement or other matter referred to herein.
In connection with the convertible bonds offering, Merrill Lynch International and J.P. Morgan Securities plc and any of their affiliates, acting as investors for their own accounts, may subscribe for or purchase convertible bonds of the Company and in that capacity may retain, purchase, sell, offer to sell or otherwise deal for their own accounts in such convertible bonds and other securities of the Company or related investments in connection with this convertible bonds offering or otherwise. Merrill Lynch International and J.P. Morgan Securities plc do not intend to disclose the extent of any such investment or transactions otherwise than in accordance with any legal or regulatory obligations to do so.
None of Merrill Lynch International and J.P. Morgan Securities plc or any of their respective directors, officers, employees, advisers or agents accepts any responsibility or liability whatsoever for or makes any representation or warranty, express or implied, as to the truth, accuracy or completeness of the information in this announcement (or whether any information has been omitted from the announcement) or any other information relating to the Company, its subsidiaries or associated companies, whether written, oral or in a visual or electronic form, and howsoever transmitted or made available or for any loss howsoever arising from any use of this announcement or its contents or otherwise arising in connection therewith.
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 per March 31, 2013 alstria’s portfolio comprised 82 properties with an aggregate lettable space of approx. 919,000 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.
For further information, please contact:
Ralf Dibbern, IR/PR
Phone: +49 (0) 40 / 226 341-329
Email: [email protected]
More information on:
End of Corporate News
07.06.2013 Dissemination of a Corporate News, transmitted by DGAP – a company of EquityStory AG.
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| Language: | English |
| Company: | alstria office REIT-AG |
| Bäckerbreitergang 75 | |
| 20355 Hamburg | |
| Germany | |
| Phone: | 040-226 341 300 |
| Fax: | 040-226 341 310 |
| E-mail: | [email protected] |
| 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 News | DGAP News-Service |
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| 215543 07.06.2013 |
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