DGAP-News: GAGFAH successfully concludes EUR1.06 billion WOBA financing with Bank of America Merrill Lynch
(firmenpresse) - DGAP-News: GAGFAH S.A. / Key word(s): Capital Reorganisation
GAGFAH successfully concludes EUR1.06 billion WOBA financing with Bank
of America Merrill Lynch
20.02.2013 / 17:54
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Press Release: February 20, 2013
GAGFAH S.A.
2-4, rue Beck
L-1222 Luxembourg
R.C.S. Luxembourg B 109.526
ISIN: LU0269583422
Frankfurt Stock Exchange, Regulated Market (Prime Standard)
GAGFAH successfully concludes EUR1.06 billion WOBA financing
with Bank of America Merrill Lynch
- One of the largest new financings in the German real estate sector in
recent years
- Important step towards improving GAGFAH's debt maturity profile
- Coupon of 3.90% is lower than for previous loan
GAGFAH and Bank of America Merrill Lynch have concluded the EUR1.06 billion
financing on which general agreement had been announced on February 4. The
previous loan on the WOBA portfolio of EUR1.04 billion, which was due to
mature on May 15, 2013, has been repaid with the new facility.
The new loan has a five-year maturity. The loan is for 60% of the WOBA
portfolio's value (according to Gagfah's valuers) with a coupon of 3.90%
which is 43 basis points lower than the 4.33% coupon of the previous loan.
The loan agreement provides for 1.0% amortization per annum and covenants
that are typical for residential real estate loans.
'This is the first of several financings we are planning to close during
the first half of the year and it will help to optimize GAGFAH's capital
structure as a whole. It also strengthens GAGFAH's role in the German
residential market as a long-term owner.' commented Gerald Klinck, CFO of
GAGFAH GROUP.
Contact
Rene Hoffmann
+352 266 366 21
rhoffmann(at)gagfah.com
About GAGFAH S.A.
GAGFAH S.A. is a joint stock corporation organized under the laws of the
Grand Duchy of Luxembourg qualifying as a securitization company under the
Luxembourg Securitization Law of March 22, 2004. The core business of
GAGFAH S.A.'s operating subsidiaries is the ownership and management of a
geographically diversified and well maintained residential property
portfolio located throughout Germany. With a portfolio of more than 145,000
apartments, GAGFAH S.A. is the largest residential property company listed
in Germany.
End of Corporate News
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20.02.2013 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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Language: English
Company: GAGFAH S.A.
2-4, rue Beck
1222 Luxemburg
Grand Duchy of Luxembourg
Phone: + 352 266 366 1
Fax: + 352 266 366 01
E-mail: info(at)gagfah.com
Internet: www.gagfah.comISIN: LU0269583422, LU0269583422
WKN: A0LBDT
Indices: MDAX
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, München,
Stuttgart
End of News DGAP News-Service
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201940 20.02.2013
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Datum: 20.02.2013 - 17:54 Uhr
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