Skip navigation

CA Immo successfully issues a EUR 500 m benchmark bond

Strong demand for inaugural issuance with a high-quality orderbook oversubscribed more than 4 times at final terms

Vienna, 29 January 2020. CA Immo (“the Company”) has tapped the Eurobond market for the first time and successfully placed a EUR 500 million fixed rate senior unsecured benchmark bond with a 7-year maturity and an annual coupon of 0.875% on 28 January 2020. The bond will trade on the Official Market of the Vienna Stock Exchange. The international rating agency Moody’s Investors Service Ltd. has assigned an investment grade rating of Baa2 to the bond. 

The Company intends to use the net proceeds in particular for the financing and refinancing of properties including future acquisitions as well as development projects and the optimization of its debt structure including the funding of the tender offer described below, as well as other general corporate purposes. 

Concurrently, the Company has decided to invite holders of its outstanding bonds 2021 (EUR 140 m, 1.875%), 2022 (EUR 175 m, 2.750%) and 2023 (EUR 150 m, 2.750%) to offer the Company to repurchase the outstanding bonds against cash payment.

J.P. Morgan acted as Sole Global Coordinator, and Erste Group, J.P. Morgan and Morgan Stanley as Joint Bookrunners.

Andreas Schillhofer, CFO of CA Immo: “This transaction represents a key milestone in executing the company's growth strategy and will further drive the optimization of our capital structure. While CA Immo's funding becomes more diversified, average cost of debt will be further reduced and average maturity of financial liabilities extended. The pool of unencumbered property assets is expected to increase further, adding to the stable and robust nature of the company's balance sheet.”

About CA Immo
CA Immo is a Vienna-based specialist in high-quality office properties in Germany, Austria and Central and Eastern European capitals. The Company covers the entire value chain in the commercial property sector, in particular the management of investment properties and project development with high in-house construction expertise. Founded in 1987, the company is listed on the ATX of the Vienna Stock Exchange and has real estate assets of around EUR 4.9 billion. CA Immo is one of the leading portfolio holders and developers of high-quality office buildings in Germany’s top 3 locations (Berlin, Munich, Frankfurt). Around 48 percent of the portfolio is located in Germany where the company has real estate assets of over EUR 2.3 billion, of which approx. EUR 800 million in real estate assets are under development. 

The information contained in this announcement is not for release, publication or distribution, directly or indirectly, in, into or to any person located or resident in the United States of America, Australia, Canada, Japan, the United Kingdom of Great Britain and Northern Ireland, Singapore or into other countries in which the release, publication or distribution of this announcement may be unlawful. This announcement is intended for advertising purposes and constitutes a marketing communication and an advertisement in accordance with Regulation (EU) 2017/1129 of the European Parliament and of the Council of 14 June 2017 (“Prospectus Regulation”) and in connection with the admittance of the securities to trading on a regulated market; it does not purport to be full or complete and is no financial analysis, an advice or a recommendation relating to financial instruments. The securities referred to have already been sold. The information contained in this announcement is for information purposes only. No reliance may be placed for any purpose on the information contained in this announcement or its accuracy or completeness. This announcement does not contain or constitute or form part of, and should not be construed as, an offer or invitation to sell, or the solicitation of an offer to buy or subscribe for, any securities. The distribution of this announcement and the offer and sale of the securities referred to herein may be restricted by law in certain jurisdictions and persons reading this announcement should inform themselves about and observe any such restriction. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction. Any offer of securities to the public, as referred to in this announcement, in an EEA Member State is exclusively addressed to qualified investors (within the meaning of) in that Member State. This announcement does not constitute a recommendation concerning the private placement of such securities. Investors should consult a professional advisor as to the suitability of the private placement for the person concerned. This announcement is addressed only to and directed only at (i) persons who are outside the United Kingdom of Great Britain and Northern Ireland or (ii) investment professionals falling within article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “Order”) and (iii) high net worth entities, and other persons to whom it may lawfully be communicated, falling within Article 49(2)(a) to (d) of the Order (all such persons in (i), (ii) and (iii) above together being referred to as “Relevant Persons”). Any investment activity to which this communication relates will only be available to and will only be engaged with, Relevant Persons. Any person who is not a Relevant Person should not act or rely on this document or any of its contents. This announcement is not for public release, publication or distribution, directly or indirectly, in or into the United States of America. This communication is not and does not constitute or form a part of any offer of, or solicitation to purchase or subscribe for, any securities in the United States of America. Any such securities have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “Securities Act”). Any such securities may not be offered or sold in the United States of America or to, or for the account or benefit of, U.S. Persons (as defined in Regulation S under the Securities Act), except pursuant to an exemption from the registration requirements of the Securities Act. No public offering of securities will be made in the United States of America. MiFID II target market: eligible counterparties and professional clients only (all distribution channels). No PRIIP key information document (KID) has been prepared. No sales to EEA retail investors. A securities rating is not a recommendation to buy, sell or hold securities. Ratings may be subject to revision or withdrawal at any time, and each rating should be evaluated independently of any other rating.