Frankfurt-listed real estate company Aroundtown Property Holdings and its wholly-owned subsidiary ATF Netherlands have successfully placed €500 mln 2.125% bonds due 2023, at a subscription price of 99.003% of their principal amount.
The bonds will be issued by ATF and guaranteed by Aroundtown. Issued in denominations of €100,000, they were offered to institutional investors outside the US and other prohibited jurisdictions. The series F bonds will be admitted to trading on the regulated market of the Irish Stock Exchange.
Aroundtown intends to use the amount raised by the issue of the latest bond series to fund its growth strategy and to re-finance or repay existing debt.
Aroundtown is a specialist real estate investment group, with a focus on value-add income generating properties primarily in the German real estate markets. The focus is on both commercial and residential real estate. The residential portfolio is held through an interest in Grand City Properties, which is likewise listed on the Frankfurt stock exchange.
