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CPI Europe AG — Capital/Financing Update 2009
Nov 27, 2009
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Capital/Financing Update
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Ad-hoc | 27 November 2009 09:50
IMMOFINANZ AG: IMMOFINANZ AG and IMMOEAST AG reach an agreement with a consortium of banks on the restructuring of the ‘Syndicated Loan’ in the amount of EUR 415 m.
IMMOFINANZ AG / Miscellaneous
27.11.2009
Dissemination of an Ad hoc announcement, transmitted by
DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
Ad hoc Release
Vienna, November 27, 2009
The Next Successful Step in the
Restructuring Programme:
IMMOFINANZ AG and IMMOEAST AG reach an agreement with a consortium of banks
on the restructuring of the 'Syndicated Loan' in the amount of EUR 415 m.
After twelve months of negotiations with a consortium of banks consisting
of Raiffeisen Zentralbank Österreich AG, WestLB, Landesbank
Hessen-Thüringen, BNP Paribas, Eurohypo AG, Landesbank Baden-Württemberg,
Oberbank AG, Credit Suisse, Investkredit Bank AG and Allgemeine Sparkasse
Oberösterreich Bankaktiengesellschaft, the IMMOFINANZ Group has reached an
agreement on the restructuring of an unsecured loan in the amount of EUR
415 m.
The loan was arranged by WestLB and Raiffeisen Zentralbank Österreich AG in
2006 and granted into the 2012/13 business year. The restructuring of the
loan has several positive effects on IMMOFINANZ, in particular, the
elimination of (or substantially higher limits for) financial covenants and
default criteria, the extensive cancellation of the repayment obligation
due to sales and a considerably improved documentation which is adapted to
the real estate business. In return, a voluntary repayment in the amount of
EUR 100 m and EUR 75 m will take place in the current and next business
year. The loan, which is in the sphere of IMMOEAST AG, shall be secured
through a guarantee from IMMOFINANZ AG and partly through properties in the
CEE region.
Thus, despite the still tense situation on the credit markets, the
IMMOFINANZ Group has managed to successfully continue its long-time
cooperation with financing banks in Austria and abroad.
With this success the IMMOFINANZ Group has managed another step in the
direction of restructuring.
Contact:
Margit Hermentin
Head of Investor Relations
IMMOFINANZ & IMMOEAST AG
A-1120 Wien, Gaudenzdorfer Gürtel 67
Tel.: +43 (0) 5 7111 - 2290
Fax: +43 (0) 5 7111 - 8290
e-mail:
[email protected]
[email protected]
www.immofinanz.com
www.immoeast.com
27.11.2009 Financial News distributed by DGAP. Media archive at www.dgap-medientreff.de and www.dgap.de
Language: English
Company: IMMOFINANZ AG
Gaudenzdorfer Gürtel 67
A-1120 Wien
Österreich
Phone: +43 (0) 5 7111 - 2290
Fax: +43 (0) 5 7111 - 8290
E-mail: [email protected]
Internet: http://www.immofinanz.com
ISIN: AT0000809058
WKN: 911064
Listed: Freiverkehr in Berlin, München, Stuttgart; Open Market in
Frankfurt; Foreign Exchange(s) Wien
End of News DGAP News-Service