EQS-Adhoc

Swiss Life Asset Management AG: Swiss Life REF (CH) Swiss Properties: Information about the planned capital increase

EQS Group-Ad-hoc: Swiss Life Asset Management AG / Key word(s): Capital Increase/Acquisition Swiss Life Asset Management AG: Swiss Life REF (CH) Swiss Properties: Information about the planned capital increase 21-Oct-2020 / 07:00 CET/CEST Release of an ad hoc announcement pursuant to Art. 53 KR The issuer is solely responsible for the content of this announcement. 21 October 2020

Swiss Life REF (CH) Swiss Properties: Information about the planned capital increase

The real estate fund Swiss Life REF (CH) Swiss Properties is planning a capital increase with a volume of around CHF 500 million at the beginning of December. The aim of the capital increase is to acquire a high-quality real estate portfolio.

The issue will take place on commission ("best-effort basis") as part of a public subscription offer in Switzerland. Two (2) subscription rights entitle the holder to purchase one (1) new unit. Official subscription rights trading will take place from 30 November to 9 December 2020 at SIX Swiss Exchange Ltd. In total, a maximum of 4 500 000 new units will be issued. Any non-subscribed units might not be issued, which would reduce the amount of the issue.
The issue price will be disclosed in the second half of November and is based on the net asset value as at 30 September 2020, minus the distribution for the 2019/20 financial year. It includes the purchase of current income and an issuing commission of 2%. The subscription period is planned for 30 November to 11 December 2020. Payment will take place as at 17 December 2020.

Solid earnings and value development
The real estate fund Swiss Life REF (CH) Swiss Properties was launched on 2 November 2015 and successfully listed on the SIX Exchange in June 2019. The earnings and value trend of the properties as well as the expansion of the portfolio have led to the successful development of the fund (annual performance since launch: 8.12%). Its investment focus is on residential real estate in Swiss cities and their surrounding areas. The fund also invests in commercial properties at central locations. The portfolio had 88 properties with a market value of around CHF 1 270 million as at the end of March 2020.