DGAP-News: KWG Kommunale Wohnen AG: Refinancing reduces cost of capital by EUR 0.5 mn p.a.
(firmenpresse) - DGAP-News: KWG Kommunale Wohnen AG / Key word(s): Real Estate
KWG Kommunale Wohnen AG: Refinancing reduces cost of capital by EUR
0.5 mn p.a.
16.07.2012 / 08:00
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- Refinancing of loans in the amount of EUR 22 mn
- Reduction of annual interest expenses by EUR 0.5 mn
- Long-term duration of 10-year loans guarantees high planning reliability
Hamburg - 16 July 2012 - KWG Kommunale Wohnen AG, long-term oriented holder
of German residential real estate, does not have any significant
refinancing requirements until the end of 2014 after the successful
refinancing of a loan in the amount of EUR 22.3 mn. The long-term financing
provided by a global insurance company and two German commercial banks
replaces the loans expiring in 2012 at attractive conditions.
The average nominal interest rate of the new financing amounts to 3.3 per
cent and has been secured at more than 200 bps. below the loans it
replaces. KWG thus lowers its annual interest expenses by approx. EUR 0.5
mn. In addition the company has increased its planning reliability through
the lock-in of interest rates for a duration of 10 years.
The new loans are classic German mortgage loans. The new financing provided
by the lenders reflects their confidence in the company's cash generation
and the value of the company's real estate portfolio.
About KWG AG
KWG Kommunale Wohnen AG is a long-term oriented owner and operator of
German residential real estate units. The company acquires residential real
estate portfolios at attractive conditions in promising micro-locations of
metropolitan regions and German regional centres and sustainably increases
their value through an active real estate asset management. By
refurbishments to high energy efficiency standards incidental costs for
tenants are being lowered. KWG AG covers the complete value chain from
acquisitions to construction management and its own internal property
management. As a result vacancies are being reduced and income from net
cold rent is being increased. This leads to value enhancements of the
properties, above average Returns on Equity and profitability. KWG's shares
are listed in the Entry Standard of the Frankfurt Stock Exchange.
Contact
KWG Kommunale Wohnen AG
Jan Hutterer
Alstertor 9
20095 Hamburg
Germany
Tel.: +49- 40- 2263088-100
eMail: ir(at)kwg-ag.de
www.kwg-ag.de
End of Corporate News
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16.07.2012 Dissemination of a Corporate News, transmitted by DGAP - a
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The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
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Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: KWG Kommunale Wohnen AG
Alstertor 9
20095 Hamburg
Germany
Phone: 040 22 63 088 100
Fax: 040 22 63 088 200
E-mail: ir(at)kwg-ag.de
Internet: www.kwg-ag.de
ISIN: DE0005227342
WKN: 522734
Listed: Freiverkehr in Berlin, München, Stuttgart; Open Market
(Entry Standard) in Frankfurt
End of News DGAP News-Service
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177881 16.07.2012
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Datum: 16.07.2012 - 08:00 Uhr
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