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VIB Vermoegen AG
Capital/Financing Update • Sep 27, 2016
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Capital/Financing Update
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Corporate | 27 September 2016 07:27
VIB Vermögen places bonded loan in the amount of EUR 70 million
DGAP-News: VIB Vermögen AG / Key word(s): Miscellaneous
2016-09-27 / 07:27
The issuer is solely responsible for the content of this announcement.
Corporate news
VIB Vermögen places bonded loan in the amount of EUR 70 million
– Issue proceeds will finance further growth and projects
– Average interest rate for the total volume at an attractive 1.17 per cent
Neuburg/Danube, September 27, 2016 – VIB Vermögen AG, a company specialising in the development, acquisition and portfolio management of commercial properties, has placed a bonded loan in the amount of EUR 70 million. Due to high demand, the issue was considerably oversubscribed, which is why the original issue volume of EUR 60 million was increased to EUR 70 million. The proceeds will be used to finance both new projects and those that have already been initiated.
The bonded loan was offered in conjunction with BayernLB and Kreissparkasse Biberach in two fixed-term tranches. The first tranche is worth EUR 57 million, has a term of 10 years and is subject to an interest rate of 1.28 per cent. The second tranche is worth EUR 13 million, has a term of 7 years and is subject to an interest rate of 0.7 per cent. By issuing the bonded loan, VIB Vermögen is optimising its financing mix on the debt side.
“Sustainable financing is part of the success of our company. Alongside traditional borrowing in the form of annuity loans, the flexible bonded loans constitute a further element of a balanced financing mix at VIB. The extremely attractive weighted average interest rate of just 1.17 per cent will have a positive impact on the overall average borrowing rate,” explains Holger Pilgenröther, CFO of VIB Vermögen AG.
Contact
Investor Relations:
VIB Vermögen AG
Petra Riechert Tel. +49 (0)8431 504 952
Luitpoldstr. C70 Fax: +49 (0)8431 504 973
86633 Neuburg/Donau Email: [email protected]
About VIB Vermögen AG
VIB Vermögen AG is a medium-sized company specialising in commercial real estate management that has been operating successfully for more than 20 years. The company focuses on properties from the logistics/light industry sectors in the economically strong southern German region. VIB’s shares have been listed on the Munich (m:access) and Frankfurt (Open Market) stock exchanges since 2005.
VIB’s business model is based on a “develop-or-buy-and-hold” strategy: Firstly, VIB acquires properties that are already rented. Secondly, it completely develops new properties in order to transfer them to its own portfolio on a long-term basis and generate rental income from them. VIB also holds investments in companies with real estate assets.
2016-09-27 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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| Language: | English |
| Company: | VIB Vermögen AG |
| Luitpoldstraße C 70 | |
| 86633 Neuburg/Donau | |
| Germany | |
| Phone: | +49 (0)8431 / 504-952 |
| Fax: | +49 (0)8431 / 504-973 |
| E-mail: | [email protected] |
| Internet: | www.vib-ag.de |
| ISIN: | DE0002457512 |
| WKN: | 245751 |
| Listed: | Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich (m:access), Stuttgart, Tradegate Exchange; Open Market in Frankfurt |
| End of News | DGAP News Service |