EQS-News

Investors support refinancing transaction and pave way for further success course

EQS-News: Accentro Real Estate AG / Key word(s): Financing/Real Estate Investors support refinancing transaction and pave way for further success course 10.03.2023 / 11:15 CET/CEST The issuer is solely responsible for the content of this announcement. Investors support refinancing transaction and pave way for further success course

Long-term refinancing of the two bonds with a total volume of EUR 350 million successfully completed Important foundation for the continuation of ACCENTRO’s success course Dr Gordon Geiser appointed Member of the Management Board and Chief Investment Officer of ACCENTRO Real Estate AG   Berlin, 10 March 2023 – ACCENTRO Real Estate AG (“ACCENTRO”), an investor in residential real estate and Germany’s leading housing privatisation company, successfully completed a comprehensive refinancing transaction. All conditions for the implementation of the refinancing of the 2020/2023 bond (volume of EUR 250 million) and the 2021/2026 bond (volume of EUR 100 million) were met. All amendments have thus become effective. These include, inter alia, the extension of the maturity of both bonds by three years each (until 2026 and 2029, respectively) and the increase of the interest rate for both bonds by two percentage points each (to 5.625 % and 6.125 %, respectively). The contractually guaranteed repayment of the 2020/2023 bond in the amount of EUR 25 million once the refinancing becomes effective was made on 9 March 2023. Lars Schriewer, CEO of ACCENTRO Real Estate AG, explains: "The convincing vote of our investors is a strong signal. We can thus continue on our success course." The Supervisory Board has appointed Dr Gordon Geiser as an additional Member of the Management Board and Chief Investment Officer (CIO) of ACCENTRO Real Estate AG, effective 10 February 2023. As CIO, Dr Geiser will in future be jointly responsible for Transactions (acquisitions, investments and divestments) as well as responsible for the liquidity management. Due to his many years of experience, he has a comprehensive and deep understanding of the real estate and real estate financing sectors and has previously assisted many companies in similar processes as a member of the management team. Dr Geiser's appointment is limited in time in accordance with the terms of the refinancing transaction and will end as soon as the nominal value of the 2020/2023 bond is EUR 125 million or less due to the contractually guaranteed repayments.