DGAP-News: DIC Asset AG: Corporate Bond of up to EUR 100 Million with a coupon of 5.75 per cent
(firmenpresse) - DGAP-News: DIC Asset AG / Key word(s): Bond
DIC Asset AG: Corporate Bond of up to EUR 100 Million with a coupon of
5.75 per cent
28.06.2013 / 13:41
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Today, the SDAX-listed real estate company DIC Asset AG (WKN 509840/ ISIN
DE0005098404) defined the terms for its corporate bond previously
announced. The five-year corporate bond will have a volume of up to EUR 100
million and be issued with a coupon of 5.75 per cent. The unsubordinated
notes will be issued at 100 per cent of the par value. The subscription
period is planned to commence on 1 July and to end on 8 July 2013, unless
it may be possibly closed prematurely or extended. 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. It may be subscribed in denominations of EUR
1,000, and will be included in the Prime Standard for corporate bonds of
the Frankfurt Stock Exchange (Deutsche Börse AG).
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. The corporate bond will further strengthen and diversify the
company's existing financing structure. Moreover, it will permit further
optimisation of the company's financing terms by reducing its bank debt on
the portfolio and property level.
Ulrich Höller, CEO of DIC Asset AG: 'The investors' feedback from many
meetings encourages us to start the marketing of our second corporate bond
now. The new corporate bond of DIC Asset AG enables investors to
participate in a sustainably profitable real estate company. They will
benefit from the secure long-term cash flow that our broadly diversified
real estate portfolio generates in combination with an effective in-house
real estate management.'
In the course of the private placement, the notes may be subscribed via the
joint bookrunners Bankhaus Lampe KG and Baader Bank Aktiengesellschaft as
well as through co-manager Solventis Wertpapierhandelsbank GmbH. In
addition, prospective buyers may submit subscription offers of the public
offering through the subscription functionality of the Xetra trading system
at the Frankfurt stock exchange. Interested investors may place their
subscription offers through their respective custodian banks.
The prospectus approved by the Luxembourg Supervisory Authority for the
Financial Sector (CSSF) may be viewed and downloaded on the homepages of
DIC Asset AG (www.dic-asset.de), of the Frankfurt Stock Exchange
(www.boerse-frankfurt.de ), and of the Luxembourg Stock Exchange
(www.bourse.lu ).
Stable and highly profitable business model
The corporate bond benefits from the solid business performance of DIC
Asset AG and allows investors to participate in its high profitability:
With its well-balanced commercial real estate portfolio (more than EUR 3
billion worth of real estate assets under management) has generated stable
earnings and profits for years now. DIC Asset AG generates a continuous
cash flow from its regular rental revenues from the existing portfolio
(Commercial Portfolio). A defined disposal strategy realises appreciations
whenever there is an adequate window. The company has a soundand
diversified financing structure in place and recently achieved a further
increase of its net debt equity ratio.
One of our key success factors is the in-house asset and property
management with six branches in Germany which are located in the regions
where our properties and tenants are concentrated. This enables DIC Asset
AG to provide a professional service and letting. The occupancy rate of the
portfolio increased by more than 3 percentage points to 89 per cent over
the past two financial years.
There are several aspects that characterise the occupancy situation and the
stability of the company's business model. The properties are situated in
attractive and market-consistent locations, and exclusively in German
cities. Furthermore, the broad tenant base of the properties is
characterised by a high degree of solvency. Our rental contracts exhibit
long durations of 5 years on average and tenants from the public sector
with very long rental terms account for roughly one quarter of the rent
revenues.
With its listing on the regulated markets and its inclusion in the SDAX
index, DIC Asset AG is subject to very high transparency standards.
Comprehensive quarterly reporting of the financial results permits close
supervision and periodic control of the business performance. This explains
why the bond requires no rating in the context of its listing in the Prime
Standard for corporate bonds at the Frankfurt Stock Exchange. Moreover, DIC
Asset AG has a high reputation with German and international investors,
having been listed for many years in the SDAX index and in the
well-established European Real Estate Index EPRA.
Disclaimer
This document is intended solely for information purposes, and does neither
constitute an offer to sell nor a solicitation of an offer to purchase or
subscribe for any securities.
The prospectus required for the public offering has been approved by the
Luxembourg Supervisory Authority for the Financial Sector (CSSF) on 28 June
2013. Application has been made for notification of the prospectus to the
German Supervisory Authority for Financial Services (BaFin) and the
Austrian Financial Market Authority (FMA). Pursuant to Article 7, Section
7, Luxembourg Law dated 10 July 2005, the CSSF does not assume
responsibility for the economic or financial adequacy of the notes, nor for
the quality and solvency of the issuer. The approved prospectus may be
viewed and downloaded on the websites of DIC Asset AG (www.dic-asset.de ),
of the Frankfurt Stock Exchange (www.boerse-frankfurt.de ), and of the
Luxembourg Stock Exchange (www.bourse.lu ).
The public offering of the notes will be made exclusively through and on
the basis of the aforementioned prospectus as published. Only the
prospectus contains the legally required information for investors, and
represents the exclusive basis of information for an investment in the
notes.
This document constitutes neither an offer of securities for sale nor a
solicitation of offer to purchase any securities in the United States of
America, nor does it form part of such an offer or such a solicitation. The
securities have not been and will not be registered pursuant to the
provisions of the United States Securities Act, and may not be sold or
offered for sale in the United States of America except after prior
registration pursuant to the provisions of the US Securities Act as amended
or else on the basis of an exemption from the registration requirement.
The information provided in this publication must not be forwarded to or
within the United States of America, Canada, Japan or Australia.
Unless expressly stated otherwise, all of the information, data,
assumptions and forward looking statements contained in this document refer
to information, data and forecast that were available to the company at the
time of publication. In accordance with applicable laws, DIC Asset AG
assumes no obligation to, and will not, update this document in any form
whatsoever.
For more information on DIC Asset AG, please visit the Company's website
www.dic-asset.de, where the quarterly report is also available.
About DIC Asset AG:
Established in 2002, DIC Asset AG, with registered offices in
Frankfurt/Main, is a real estate company with a dedicated investment focus
on commercial real estate in Germany, pursuing a return-oriented investment
policy. Real estate assets under management currently amount to approx. EUR
3.4 billion, comprising around 260 properties. The Company's investment
strategy is geared to the continued development of a high-quality, highly
profitable and regionally diversified portfolio. The real estate portfolio
is structured in two segments: the Commercial Portfolio (EUR 1.8 billion)
comprises existing properties with long-term rental contracts generating
attractive rental yields. The Co-Investments segment (pro-rata share of EUR
0.3 billion) comprises fund investments, joint-venture investments, and
interests in development projects. DIC Asset AG provides a direct service
to tenants through its own real estate management teams in six branch
offices located at the regional hubs within the portfolio. This provides
DIC Asset AG with an edge in terms of market presence and expertise, and
builds the foundation for maintaining and increasing income and the value
of its real estate assets. DIC Asset AG has been included in the SDAX(R)
segment of the Frankfurt Stock Exchange since June 2006. The Company's
shares are also included in the EPRA index, which tracks the performance of
the most important European real estate companies.
Pressekontakt/Media contact:
Thomas Pfaff Kommunikation
Höchlstraße 2
81675 München
Tel. +49 (0) 89 99 24 96 50
Fax +49 (0) 89 99 24 96 52
Mobil (0172) 831 29 23
kontakt(at)pfaff-kommunikation.de
Investor Relations&Corporate Communications:
Immo von Homeyer
Eschersheimer Landstraße 223
60320 Frankfurt am Main
Tel. +49 (0) 69 9 45 48 58-86
Fax +49 (0) 69 9 45 48 58-99
ir(at)dic-asset.de
Facts&Figures on DIC Asset AG
Bond:
Type of security: bearer notes
ISIN: DE000A1TNJ22
WKN (securities no.: A1TNJ2
Listing: Prime Standard for corporate bonds, Frankfurt
Issuance volume: up to EUR 100 million
Denomination (par value): EUR 1,000 per note
Interest rate: 5.75 per cent per annum
Issue date: 09 July 2013 expected
Maturity: 5 years
Advance repayment: not possible
Subscription period: 01 through 08 July 2013, unless possibly
closed prematurely or extended
Company Details (IFRS):
2012 2011End of Corporate News
Total earnings EUR 229.1 million EUR 157.2 million
Cash flow from operating activities EUR 43.9 million EUR 38.4 million
FFO EUR 44.9 million EUR 40.8 million
Net asset value EUR 685.4 million EUR 678.8 million
Financial debt EUR 1,489.9 million EUR 1,521.9 million
Total assets EUR 2,210.2 million EUR 2,244.6 million
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28.06.2013 Dissemination of a Corporate News, transmitted by DGAP - a
company of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: DIC Asset AG
Eschersheimer Landstr. 223
60320 Frankfurt
Germany
Phone: +49 69 9454858-86
Fax: +49 69 9454858-99
E-mail: ir(at)dic-asset.de
Internet: www.dic-asset.de
ISIN:DE0005098404, DE000A1KQ1N3,
WKN: 509840, A1KQ1N,
Indices: S-DAX
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, Hannover,
München, Stuttgart
End of News DGAP News-Service
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Datum: 28.06.2013 - 13:41 Uhr
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