IVG Immobilien AG / Key word(s): Banking Syndicate/Contract
10.11.2011 17:51

Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.

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IVG Immobilien AG made significant progress in optimizing its financial structure. Based on a binding agreement between IVG Immobilien AG and the syndicate banks the Syndicated Loan 2009 (also known as 'SynLoan II') could be extended early. The syndicated financing was originally due in 4Q 2012 and will now be prolonged by 12 domestic banks until 3Q 2014. The current credit volume is EUR1,047m and continued redemption payments have been agreed financed through a pre-agreed sales program of caverns to a specialized fund structured by IVG investing in caverns (IVG Caverns Fund). IVG expects a slight increase in cost of debt short term, with overall falling cost of debt over the lifetime of the financing.
In addition an early extension of the 'CORE' - financing with three German banks originally maturing in 3Q 2012 could be secured. The consortium will provide the financing of EUR933m now until December 2015. Here IVG expects financing costs to decrease.

The secured agreements are solely pending the corresponding credit documentation and implementation of the agreed securitization concept.
With these latest achievements IVG in a short period of time extended a significant amount of its short term debt, therefore making a further major step on its way to realign its financing structure. In total debt extensions of cEUR2.6bn in short term credit lines were secured in the last few weeks, leading to a significant improvement of the company's financial- and debt maturity profile.


Martin Praum
Managing Director
Head of Investor Relations & Capital Markets
Head of Communication & Marketing

IVG Immobilien AG
Zanderstr. 5-7
53177 Bonn
Germany
 
Tel: +49 228 844 137
Fax: +49 228 844 6137
Mob: +49 151 1500 2634
email: martin.praum@ivg.de
email: ir@ivg.de (IR-Team)
email: info@ivg.de (Media Team)
Web:  www.ivg.de




10.11.2011 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:      IVG Immobilien AG
              Zanderstr. 5-7
              53177 Bonn
              Germany
Phone:        +49 (0)228 844-333
Fax:          +49 (0)228 844-372
E-mail:       ir@ivg.de
Internet:     www.ivg.de
ISIN:         DE0006205701
WKN:          620570
Indices:      SDAX
Listed: Regulierter Markt in Berlin, Düsseldorf, Frankfurt (Prime Standard), München; Freiverkehr in Hamburg, Hannover,               Stuttgart
 
End of Announcement DGAP News-Service  

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