Frankfurt-listed real estate company DIC Asset has announced that its new five-year corporate bond will have a volume of up to €100 mlln and be issued with a coupon of 5.75%.
Frankfurt-listed real estate company DIC Asset has announced that its new five-year corporate bond will have a volume of up to €100 mlln and be issued with a coupon of 5.75%.
The unsubordinated notes will be issued at 100% of par value. The subscription period is planned to commence on 1 July and to end on 8 July 2013, but could be closed prematurely or extended, depending on investor appetite.
The listing is scheduled for 9 July 2013. The notes will be issued by way of a public offering of the company in Germany, Luxembourg and Austria as well as through an international private placement to qualified investors in Germany and certain other jurisdictions.
The company intends to use the issue proceeds to refinance existing bank debt on the portfolio and property level as well as for general corporate purposes.
Established in 2002, DIC Asset AG is based in Frankfurt/Main and has real estate assets under management of approximately €3.4 bn, comprising around 260 properties.
