18.09.2018, 1755 Zeichen

CA Immo: Austrian real estate company CA Immo is issuing a corporate bond with a volume of Euro 150 m and a term of 7.5 years. The coupon for the fixed-rate bond is 1.875%, with a denomination of Euro 1,000. From 20 to 25 September 2018, private investors in Austria may subscribe to the bond through Austrian banks (the right to premature closing of the subscription is reserved). The bond will trade on the Second Regulated Market of the Vienna Stock Exchange. The international rating agency Moody’s Investors Service Ltd. has assigned an investment grade rating of Baa2 to the bond. CFO   Hans Volkert Volckens commented:  “With this transaction, we use the positive market sentiment to face future changes in the interest rate and market environment. Net proceeds will in particular be used for further growth and the optimization of debt and other general corporate purposes.” The net proceeds are largely earmarked for the financing and refinancing of properties including the Group’s latest as well as future acquisitions and future development projects. Aside from a further reduction in average borrowing costs, the transaction will serve to improve the maturity profile of financial liabilities while raising the quota of hedged financial liabilities. Moreover, the pool of unencumbered assets – a key factor in the company’s investment grade rating – will expand, thereby substantiating the rating of CA Immo (Moody’s Baa2 with stable outlook). The financing profile of the Group will thus become more robust. Raiffeisen Bank International AG and UniCredit Bank Austria AG were mandated as Joint-Lead Managers and Bookrunners. 
CA Immo: weekly performance: -1.20%

(From the 21st Austria weekly https://www.boerse-social.com/21staustria (18/09/2018)

Christian Drastil: Wiener Börse Plausch

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