EQS-Adhoc
Deutsche Konsum REIT-AG: Issue of a subordinated secured convertible bond in the amount of EUR 10 million under exclusion of subscription rights
- Deutsche Konsum REIT-AG issued EUR 10 million convertible bond.
- Subscription rights excluded for existing shareholders.
- Proceeds used for general corporate financing.
EQS-Ad-hoc: Deutsche Konsum REIT-AG / Key word(s): Bond Publication of inside information in accordance with Art. 17 para. 1 of Regulation (EU) 596/2014 on market abuse (market abuse regulation) |
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Potsdam, Germany, 5 April 2024 – The Management Board of Deutsche Konsum REIT-AG ("Company") (ISIN: DE000A14KRD3 | WKN: A14KRD | ticker symbol: DKG) today resolved, with the approval of the Company's supervisory board, to issue a subordinated secured convertible bond in the aggregate principal amount of EUR 10 million, making partial use of the authorization granted by the Company's Annual General Meeting on 11 March 2021. The subscription rights of the Company's existing shareholders were excluded. Two institutional investors were admitted to subscribe and underwrite the partial bonds of the convertible bond ("partial bonds").
The partial bonds with a nominal amount of EUR 1,000.00 each are issued at 98.5% of the nominal amount, i.e. EUR 985.00, and bear interest at a rate of 12% p.a., payable quarterly. They are due for repayment at 100% of the nominal amount on 5 October 2025, unless they are converted or repaid before.
The initial conversion price amounts to EUR 2.85 per Bond.
Admission or inclusion of the partial bonds to trading on a stock exchange is not envisaged.
The Company intends to use the net issue proceeds for the Company's general corporate financing.
Contact:
Deutsche Konsum REIT-AG