DGAP-News: GSG financing: standstill agreement prolonged
(firmenpresse) - DGAP-News: ORCO Germany S.A. / Key word(s): Agreement
GSG financing: standstill agreement prolonged
20.06.2012 / 18:51
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Standstill Agreement
GSG financing: standstill agreement prolonged
Berlin, June 20, 2012 - The standstill agreement between GSG Asset GmbH&Co.?Verwaltungs KG, a subsidiary of ORCO Germany S.A., and THE Royal Bank
of?Scotland signed in April 2012 regarding the GSG loan terminated on June
15, 2012. In light of the progress of negotiations with new banking
partners about the refinancing of the loan, the parties agreed to prolong
the standstill agreement until July 20, 2012. In the meantime, GSG is still
paying off the loan on a regular basis, which now stands at a principal of
EUR 285.74 million.
About ORCO Germany
ORCO Germany S.A. is a property company that is listed in the Prime
Standard on the Regulated Market at Frankfurt Stock Exchange and has its
registered office in Luxembourg. The ORCO Germany Group, which acts
consistently under its registered name of ORCO Germany, has been operating
in Germany since 2004 and concentrates on commercial property and project
development.
ORCO Germany is a subsidiary of ORCO Property Group, which is one of the
leading Central European property companies. The ORCO Property Group,
established in 1991, is based in Luxembourg and has listings on NYSE
Euronext Paris, Prague and Warsaw stock exchanges.
For further information please contact:
Press Contact:
Kirchhoff Consult AG
Sebastian Bucher
Herrengraben 1
20459 Hamburg
T +49 40 60 91 86 18
F +49 40 60 91 86 60
E sebastian.bucher(at)kirchhoff.de
End of Corporate News
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20.06.2012 Dissemination of a Corporate News, transmitted by DGAP - a
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The issuer is solely responsible for the content of this announcement.
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Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: ORCO Germany S.A.
42, rue de la Vallée
L-2661 Luxembourg
Grand Duchy of Luxembourg
Phone: +49 (0)30 390 93 116
Fax: +49 (0)30 390 93 199
E-mail: patricia.jaenisch(at)orco-gsg.de
Internet: www.orcogermany.de
ISIN: LU0251710041
WKN: A0JL4D
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Düsseldorf, Stuttgart
End of News DGAP News-Service
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174824 20.06.2012
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Datum: 20.06.2012 - 18:51 Uhr
Sprache: Deutsch
News-ID 158437
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