DGAP-News DIC Asset AG: Corporate bond issuance postponed for the time being - on growth path with good liquidity buffer

Nachrichtenquelle: EQS Group AG
12.10.2020, 19:52  |  115   |   |   

DGAP-News: DIC Asset AG / Key word(s): Bond
DIC Asset AG: Corporate bond issuance postponed for the time being - on growth path with good liquidity buffer

12.10.2020 / 19:52
The issuer is solely responsible for the content of this announcement.


Press Release

DIC Asset AG: Corporate bond issuance postponed for the time being - on growth path with good liquidity buffer

Frankfurt am Main, 12 October 2020. The management board of DIC Asset AG (ISIN: DE000A1X3XX4), one of the leading German listed real estate companies, decided today to not pursue the issuance of a corporate bond until further notice because it is currently not attractive enough on the basis of the achievable conditions from the company's perspective.

With a profile that is already similar to investment grade, the company will continue to review existing opportunities at any time in order to optimise its financing structure, given suitable parameters. In the future, the international bond market is also supposed to be used as a possible source of financing, but today's achievable conditions are not sufficiently attractive for the company, which is currently financed with an average cost of debt of 2.1%. The company is in an excellent position to achieve its operating targets as planned and has a high level of liquidity, which amounted to c. EUR 416.6 million as of the balance sheet date 30 June 2020. There are no further significant maturities for 2020/2021.

 

About DIC Asset AG:
With more than 20 years of experience on the German real estate market, the company maintains a regional footprint on all major German markets through six branch offices, and has 186 assets with a combined market value of c. EUR 8.5 billion under management (as of 30/06/2020).

Taking an active asset management approach, DIC Asset AG employs its proprietary, integrated real estate management platform to raise capital appreciation potential company-wide and to boost its revenues.

In its Commercial Portfolio division (EUR 1.9 billion in assets under management, as of 30/06/2020), DIC Asset AG acts as proprietor and property asset holder, and thus generates revenues both from the management of the assets and through the value optimisation of its own real estate portfolio.

In its Institutional Business division (EUR 6.6 billion in assets under management, as of 30/06/2020), which operates under the name GEG German Estate Group, DIC Asset AG generates income by structuring and managing investment vehicles with attractive dividend yields for national and international institutional investors.

DIC Asset AG has been SDAX-listed since June 2006.

IR Contact DIC Asset AG:
Peer Schlinkmann
Head of Investor Relations & Corporate Communications
Neue Mainzer Strasse 20
D-60311 Frankfurt am Main
Phone +49 69 9454858-1492
ir@dic-asset.de
 



12.10.2020 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de


Language: English
Company: DIC Asset AG
Neue Mainzer Straße 20
60311 Frankfurt am Main
Germany
Phone: +49 69 9454858-1492
Fax: +49 69 9454858-9399
E-mail: ir@dic-asset.de
Internet: www.dic-asset.de
ISIN: DE000A1X3XX4, DE000A12T648, DE000A2GSCV5, DE000A2NBZG9
WKN: A1X3XX, A12T64, A2GSCV, A2NBZG
Indices: S-DAX
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange; Luxembourg Stock Exchange
EQS News ID: 1140400

 
End of News DGAP News Service

1140400  12.10.2020 

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DGAP-News DIC Asset AG: Corporate bond issuance postponed for the time being - on growth path with good liquidity buffer DGAP-News: DIC Asset AG / Key word(s): Bond DIC Asset AG: Corporate bond issuance postponed for the time being - on growth path with good liquidity buffer 12.10.2020 / 19:52 The issuer is solely responsible for the content of this announcement. …

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