DGAP-Adhoc

IMMOFINANZ AG launches a EUR 375 million offering of bonds exchangeable into BUWOG AG shares

IMMOFINANZ AG / Key word(s): Real Estate/Bond

04.09.2014 08:46

Dissemination of an Ad hoc announcement, transmitted by DGAP - a service of
EQS Group AG.
The issuer is solely responsible for the content of this announcement.

---------------------------------------------------------------------------

NOT FOR DISTRIBUTION IN THE USA, UK, CANADA, JAPAN OR AUSTRALIA


IMMOFINANZ AG today announces the offering of bonds with a volume of EUR
375 million exchangeable into BUWOG AG shares. The bonds will be offered in
an accelerated bookbuilding to institutional investors.

The bonds will be marketed with a coupon ranging between 0.75% and 1.50%
per annum. The initial exchange price of the bonds will be set at a premium
between 15% and 25% over the reference share price. The coupon and the
exchange premium will be determined following the accelerated bookbuilding,
which is expected to take place today, 4 September 2014.

The bonds will be issued and redeemed at 100% of their principal amount and
will mature on 11 September 2019.

Bondholders will be entitled to have their bonds redeemed at their
principal amount plus accrued interest on 11 September 2017.

The reference share price represents the volume weighted average price of
the BUWOG AG shares on the Vienna Stock Exchange between market open and
close of trading on 4 September 2014.

Upon exchange, IMMOFINANZ AG will have the discretionary right to deliver
an amount in cash, instead of BUWOG AG shares, as described in the Terms &
Conditions of the bonds. Upon redemption, IMMOFINANZ AG will have the
option to deliver a combination of shares and cash.

Application will be made to introduce the bonds for trading on the Third
Market (MTF) of the Vienna Stock Exchange.

The proceeds from the bonds will be used to repay existing financings, for
current and planned portfolio investments, opportunistic growth
opportunities and/or general corporate purposes.

IMMOFINANZ AG holds a 49% investment in BUWOG AG (corresponding to approx.
48.81 million shares) following the majority spin-off on 26 April 2014 and
plans to sell this investment over the medium-term.

BNP Paribas, J.P. Morgan and Morgan Stanley are acting as Joint
Bookrunners.


Disclaimer
The securities referred to herein will not be registered under the U.S.
Securities Act of 1933, as amended (the "U.S. Securities Act"), or any U.S.
State securities laws and may not be offered or sold in the United States
absent registration or an applicable exemption from the registration