CA Immo, Deutsche Wohnen to raise EUR 400m of equity

Vienna-based CA Immobilien Anlagen has announced plans to raise between EUR 100 mln and EUR 150 mln through the issue of a corporate bond. The company has mandated UniCredit CAIB bank to manage the operation, which is scheduled for October.

Meanwhile, German property company Deutsche Wohnen said it is seeking to raise EUR 250 mln through a capital increase running from 24 September to 7 October 2009. The Frankfurt-based company will issue a total of 55 million shares at a price of EUR 4.50 per share. The company will use about half of the net proceeds to reduce liabilities of the group.

Deutsche Wohnen said that it has already received binding commitments from OCM Luxembourg Real Estate Investments and OCM Luxembourg Opportunities Investments for the subscription of a total of 20.6% of the issued shares, representing an investment of EUR 51.5 mln. The shareholders of Deutsche Wohnen will receive subscription rights and are entitled to acquire 21 shares for each 10 shares held.