Listed German residential property company LEG Immobilien has placed €300 mln in convertible bonds with institutional investors to diversify its financing sources and support its growth strategy.
Listed German residential property company LEG Immobilien has placed €300 mln in convertible bonds with institutional investors to diversify its financing sources and support its growth strategy.
The bond issue is the company's first since it was listed on the stock exchange a year ago.
LEG said the senior, unsecured bonds will mature in 2021 and be convertible into around 4.8 million shares, representing 9.1% of the company's outstanding share capital.
LEG Immobilien is one of Germany’s leading housing companies with more than 95,000 rental properties and more than 260,000 tenants.
