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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. 

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