DGAP-News

Deutsche Wohnen AG successfully places EUR 800 million new convertible bonds and cash capital increase with gross proceeds of c. EUR 545 million

DGAP-News: Deutsche Wohnen AG / Key word(s): Corporate Action Deutsche Wohnen AG successfully places EUR 800 million new convertible bonds and cash capital increase with gross proceeds of c. EUR 545 million 21.02.2017 / 23:32 The issuer is solely responsible for the content of this announcement. NOT FOR RELEASE, PUBLICATION, DISTRIBUTION IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA, JAPAN OR ANY OTHER JURISDICTION IN WHICH OFFERS OR SALES WOULD BE PROHIBITED BY APPLICABLE LAWS.

Deutsche Wohnen AG successfully places EUR 800 million new convertible bonds and cash capital increase with gross proceeds of c. EUR 545 million

• Successful placement of convertible bonds with an aggregate principal amount of EUR 800 million with 0.325 % coupon and a term of 7 years and 5 months and a 53.0 % conversion premium
• 
  
• Successful placement of approximately 17.2 million new shares at a placement price of EUR 31.75 per share or a discount to the XETRA closing price on February 21, 2017 of 2.1 % with gross proceeds of EUR 545 million
• 
  

Frankfurt/Main and Berlin, 21 February 2017. Deutsche Wohnen AG ("Deutsche Wohnen" or the "Company") successfully placed convertible bonds maturing in July 2024 with an aggregate principal amount of EUR 800 million, divided into 8,000 bonds in a nominal amount of EUR 100,000 each ("New Convertible Bonds"). The New Convertible Bonds are initially convertible into approximately 16.5 million new or existing ordinary no par value bearer shares of Deutsche Wohnen or can be repaid in cash.

The New Convertible Bonds placed by Deutsche Wohnen AG were issued at 100 % of their nominal value and with a coupon of 0.325 %. The initial conversion price amounts to EUR 48.5775, representing a conversion premium of 53.0 % above the placement price of the concurrent EUR 545 million capital increase. With regards to the guided EPRA NAV of EUR 29.50-30.00 per share as at December 31, 2016, the initial conversion price represents a premium of approximately 63 %.