DGAP-News

Grand City Properties S.A.: SUCCESSFULLY PLACED EUR 250 MILLION IN A RE-OPENING OF THE COMPANY'S 3.75% PERPETUAL HYBRID NOTES ('ORIGINAL NOTES')

Grand City Properties S.A. / Key word(s): Bond/Real Estate

03.03.2015 15:54

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GRAND CITY PROPERTIES S.A.
SUCCESSFULLY PLACED EUR 250 MILLION IN A RE-OPENING OF THE COMPANY'S 3.75%
PERPETUAL HYBRID NOTES ("ORIGINAL NOTES")

3 March 2015

Grand City Properties S.A. (the "Company") announces today a successful EUR
250 million tap of the Company's Original Notes (the "Additional Notes").
The total aggregate principal amount of the Original Notes and Additional
Notes will thereby increase to EUR 400 million.

The Additional Notes are in denominations of EUR 100,000 and were
exclusively offered to institutional investors at an issue price of 97.04
%. The issue was over-subscribed

The Additional Notes will be merged with the Original Notes and will form a
single series which will be traded in the Irish Stock Exchange on its
regulated market. Settlement is expected to take place on March 9, 2015.

The Company intends to use the amount raised in the issue of the Additional
Notes to fund the Company's acquisitions growth strategy.

About the Company

Grand City Properties is a specialist real estate company focused on
investing in and managing turnaround opportunities in the real estate
property market in Germany, primarily in densely populated areas. The
Company's strategy is to improve its properties through targeted
modernisation and intensive tenant management, and then create value by
subsequently raising occupancy and rental levels. For the nine months
ending 30 September 2014, the Company reported an EBITDA of EUR219 million
(YOY increase of 39%), Adjusted EBITDA EUR79 million (YOY increase of
126%)and a net profit of EUR174 million (YOY increase of 27%). EPRA NAV
amounts to EUR1,342 million. FFO I run rate for March 2015 annualised
(March*12) is EUR102million. Further information: