Brief: PREOS Real Estate To Issue Convertible Bond

PREOS Global Office Real Estate & Technology AG

11/11/2019 08:14

Nov 11 (Reuters) - PREOS REAL ESTATE AG  PAGn.DE :
    * PREOS REAL ESTATE AG DECIDES TO ISSUE A CONVERTIBLE BOND
WITH A
VOLUME OF UP TO EUR 300 MILLION.
    * INITIAL CONVERSION RATIO AT EUR 9.90
    * CONVERTIBLE BOND 2019/2024 WITH A COUPON RATE OF 7.5 %
P.A. AND
REPAYMENT AT 105.0 % UPON MATURITY IN DECEMBER 2024
    * PUBLITY AG CONTRIBUTES ABOUT EUR 113 MILLION IN LOAN
RECEIVABLES
TO PREOS AND RECEIVES BONDS WITH A TOTAL NOMINAL VALUE OF
APPROXIMATELY EUR 107.8 MILLION
    * SUBSCRIPTION OFFERING (IN GERMANY) EXPECTED FROM 19.11.-
2.12.2019
    * REPAYMENT RATE OF 105 % AT MATURITY
    * INTENDS TO USE INFLOW OF FUNDS FROM TRANSACTION PRIMARILY
TO
ACQUIRE FURTHER PROPERTIES AND REAL ESTATE COMPANIES TO EXPAND
ITS PORTFOLIO
    * SUBSCRIPTION OFFERING TO BE LAUNCHED FROM 19 NOVEMBER 2019
TO 2
DECEMBER 2019 TO PREOS SHAREHOLDERS AT SUBSCRIPTION PRICE OF
1,000.00 PER BOND
    * SUBSCRIPTION RIGHT TRADING IS NOT INTENDED
    * ISSUE AND SUBSCRIPTION PRICE THUS CORRESPONDS TO 100 % OF
NOMINAL AMOUNT PER BOND
    * ISSUE PRICE OF EUR 1,000.00 PER BOND

Source text for Eikon:  ID:nEQ7PJ4P4a 
Further company coverage:  PAGn.DE 

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