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EQS-Ad-hoc News vom 12.07.2017

Peach Property Group secures growth financing

Peach Property Group AG / Key word(s): Financing

12-Jul-2017 / 07:00 CET/CEST
Release of an ad hoc announcement pursuant to Art. 53 KR


Press release

Peach Property Group AG secures growth financing

- German Sparkasse and Volksbank institutes finance ongoing expansion through a syndicated loan with a volume of up to EUR 60 million

- In the first stage around EUR 30 million will be provided with an increase option

- Interest rate for financing 3.25% plus 5-Y-Midswap with a 5-year term

- Transaction arranged by Kreissparkasse Biberach's center of competence for Corporate Finance

Zurich, 12 July 2017 - Peach Property Group, an investor specialising in the management of residential property in Germany, has secured a syndicated loan from German Sparkasse and Volksbank institutes of up to EUR 60 million to accelerate its growth. In a first stage around EUR 30 million have been provided. This unsecured loan bears an interest rate of 5-Y-Midswap plus 3.25% per year and has a 5-year term. The transaction was arranged by Kreissparkasse Biberach's center of competence for Corporate Finance. The newly agreed financing will supplement standard bank mortgages when acquiring real estate portfolios.

As part of the ongoing expansion of the Group's portfolio, the credit volume can be increased to up to EUR 60 million. Peach Property Group intends to use the additional funding to acquire residential property in Germany and thus to further expand the number of apartments on its books. The Group has already increased its portfolio by more than one third since the beginning of 2017 to a total of 4,243 residential units.

Dr. Thomas Wolfensberger, Peach Property Group's CEO, commented: "This transaction means that we have further increased our financial reach, allowing us to continue our expansion. In the first place, we are focusing on regions where we already own properties, thus allowing us to leverage portfolio management synergies. This syndicated loan's structure is very close to the capital markets, thus allowing us to use all the opportunities that the capital market offers."

Contacts:

Media, investors and analysts

Dr. Thomas Wolfensberger, Chief Executive Officer and Dr. Marcel Kucher, Chief Financial Officer

+41 44 485 50 00 | investors@peachproperty.com

Media Germany

edicto GmbH, Axel Mühlhaus, Peggy Kropmanns

+49 (0) 69 90 55 05 52 | amuehlhaus@edicto.de

 

About Peach Property Group AG

Peach Property Group is a property investor and developer focused on investments in Germany and Switzerland. The Group stands for long time experience, competence and quality. Innovative solutions for modern housing needs, strong partnerships and a wide value chain complete the profile of the Group. The portfolio consists of an increasing number of high yield investment properties, typically in B-cities in close reach to metropolitan areas. In addition, the Group develops properties for its own portfolio or for the sale as condominium. Developments for sale focus on A-locations and encompass attractive architecture and high level furnishing for an international clientele. The business activities of the Group cover the entire value chain, from property acquisition and site selection to active asset management and finally to the sale or lease of properties.

Peach Property Group AG is headquartered in Zurich and has its German Group headquarters in Cologne. Peach Property Group AG is listed on the SIX Swiss Exchange (PEAN, ISIN CH0118530366). Its Board of Directors consists of Reto Garzetti (President), Peter Bodmer and Dr. Christian De Prati.

For more information, see www.peachproperty.com

 


Additional features:


Document: http://n.eqs.com/c/fncls.ssp?u=WLPLFYEUUA
Document title: Press Release

End of ad hoc announcement

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