26.03.2018
Vonovia SE DE000A1ML7J1
DGAP-News: Vonovia SE: Debt Financing and Settlement of Acceptance Period for BUWOG Tender Offer Fully Completed
DGAP-News: Vonovia SE / Key word(s): Offer
Vonovia SE: Debt Financing and Settlement of Acceptance Period for BUWOG
Tender Offer Fully Completed (news with additional features)
26.03.2018 / 18:00
The issuer is solely responsible for the content of this announcement.
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NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION (IN WHOLE OR IN PART) IN, INTO
OR FROM ANY OTHER JURISDICTION WHERE TO DO SO WOULD VIOLATE THE LAWS OF SUCH
JURISDICTION. THIS ANNOUNCEMENT IS NEITHER AN OFFER TO EXCHANGE OR PURCHASE
NOR A SOLICITATION OF AN OFFER TO EXCHANGE OR PURCHASE SHARES OR CONVERTIBLE
BONDS.
Debt Financing and Settlement of Acceptance Period for BUWOG Tender Offer
Fully Completed
- Vonovia now holds a controlling majority stake in BUWOG
- Settlement of Tender Offer completed today for the 73.8 % of BUWOG shares
and the 99.6 % of convertible bonds tendered in the initial acceptance
period; including shares acquired in the market since March 20, 2018,
Vonovia's current aggregate stake in BUWOG totals 74.19 %
- Acquisition of this majority stake fully debt financed via six senior
unsecured notes with an aggregate volume of EUR3.1bn, an average tenor of
10.1 years and a volume-weighted average coupon of 1.545%
- Consolidated Q1 results to be published on May 3, including first estimate
for 2018(E) FFO 1 incl. BUWOG
Bochum, 26 March 2018 - Vonovia SE ("Vonovia") has successfully completed
the debt financing and settlement of the shares and convertible bonds
tendered during the initial acceptance period of the BUWOG tender offer that
had ended on March 12, 2018. Following the raising of an aggregate EUR3.1bn
of senior unsecured corporate bonds in January and March 2018, the
acquisition of the controlling majority in BUWOG has been fully debt
financed, as previously announced. The financing for this transaction breaks
down as follows:
January 8 issuance:
Tranche EUR500m 6 years Jan. 0.750% fixed rate
1 2024
Tranche EUR500m 10 Jan. 1.500% fixed rate
2 years 2028
Total EUR1,000- 8 years --- 1.125% volume-weighted avg.
m coupon
March 15 issuance:
Tranche EUR600m 4.75 Dec. 0.793% fixed rate
1 years 2022
Tranche EUR500m 8 years Mar. 1.500% fixed rate
2 2026
Tranche EUR500m 12 years Mar. 2.125% fixed rate
3 2030
Tranche EUR500m 20 years Mar. 2.750% fixed rate
4 2038
Total EUR2,100- 10.9 --- 1.744% volume-weighted avg.
m years coupon
The aggregate debt volume of EUR3.1bn from both issuances has an average
tenor of 10.1 years and a volume-weighted average coupon of 1.545%.
Following the announcement of the final results of the initial acceptance
period on March 16, BUWOG shareholders who have not yet accepted the offer
can tender their BUWOG shares, at unchanged terms, during the additional
acceptance period, which ends on June 18, 2018 at 17:00 Vienna local time.
Including the shares acquired in the market since March 20, 2018, Vonovia's
current aggregate stake in BUWOG totals 74.19%.
Vonovia will report its consolidated Q1 results on May 3, including the
first estimate for FY2018 FFO 1 incl. BUWOG.
.....
About Vonovia
Vonovia SE is Germany's leading nationwide residential real estate company.
Vonovia currently owns and manages around 347,000 residential units in all
of Germany's attractive cities and regions. Its portfolio is worth
approximately EUR 33.4 billion. As a modern service company, Vonovia focuses
on customer orientation and tenant satisfaction. Offering tenants
affordable, attractive and livable homes is a prerequisite for the company's
successful development. Accordingly, Vonovia makes long-term investments in
the maintenance, modernization and senior-friendly conversion of its
properties. The company will also be creating more and more new apartments
by realizing infill developments and adding to existing buildings.
The company, which is based in Bochum, has been listed on the stock exchange
since 2013 and on the DAX 30 since September 2015. Vonovia SE is also listed
on the international indices STOXX Europe 600, MSCI Germany, GPR 250 and
EPRA/NAREIT Europe. Vonovia has a workforce of approximately 8,400
employees.
Additional Information:
Approval: Regulated Market/Prime Standard, Frankfurt Stock Exchange
ISIN: DE000A1ML7J1
WKN: A1ML7J
Common code: 094567408
Registered headquarters of Vonovia SE: Bochum, Germany, Bochum Local Court,
HRB 16879
Registered address of Vonovia SE: Universitätsstraße 133, 44803 Bochum,
Germany
Important Information:
This press release has been issued by Vonovia SE (Vonovia) solely for
information purposes. Moreover, it is neither an offer to purchase nor a
solicitation to sell securities of BUWOG AG (BUWOG). The final conditions
and further provisions relating to the takeover offer are contained in the
offer document. Vonovia as bidder reserves the right to deviate from the
terms presented herein in the final terms and provisions of the takeover
offer. Investors and holders of shares or convertible bonds in BUWOG are
strongly recommended to review the offer document and all other documents
related to the takeover offer, as they will contain important information.
In accordance with Austrian and European law, the takeover offer to acquire
a controlling interest will be conducted solely on the basis of the
applicable provisions of the Austrian law, in particular the Austrian
Takeover Act (Takeover Act). The intended takeover offer is not made or
intended to be made pursuant to the laws of any jurisdiction other than
those of Austria. With regard to the takeover offer Vonovia and the persons
acting in concert with Vonovia within the meaning of section 1 no. 6 of the
Takeover Act do not assume any responsibility for compliance with laws other
than the laws of Austria. Notifications and the publication of information
on the intended takeover offer are only intended in Austria, unless a
notification or other publication is required or permitted under the
respective laws of other jurisdictions.
To the extent permissible under applicable law or regulation, Vonovia or its
brokers may pur-chase, or conclude agreements to purchase, shares in BUWOG,
directly or indirectly, outside of the scope of the intended takeover offer,
before, during or after the period in which the takeover offer remains open
for acceptance. This also applies to other securities which are directly
convertible into, exchangeable for, or exercisable for BUWOG shares, such as
convertible bonds. These purchases may be conducted over the stock exchange
at market prices or outside the stock exchange at negotiated conditions. Any
information on such purchases will be disclosed as required by law or
regulation in Austria.
This press release may contain statements, assumptions, opinions and
predictions about the anticipated future development of Vonovia or BUWOG
(forward-looking statements) that reproduce various assumptions regarding
results derived from Vonovia's or BUWOG's current business or from publicly
available sources that have not been subject to an independent audit or
in-depth evaluation by Vonovia and that may turn out to be incorrect at a
later stage. All forward-looking statements express current expectations
based on the current business plan and various other assumptions and
therefore come with risks and uncertainties that are not insignificant. All
forward-looking statements should not therefore be taken as a guarantee for
future performance or results and, furthermore, do not necessarily
constitute appropriate indicators that the forecast results will be
achieved. All forward-looking statements relate solely to the day on which
this press release was issued to its recipients. It is the responsibility of
the recipients of this press release to conduct a more detailed analysis of
the validity of forward-looking statements and the underlying assumptions.
Vonovia accepts no responsibility for any direct or indirect damages or
losses or subsequent damages or losses, as well as penalties that the
recipients may incur by using the press release, its contents and, in
particular, all forward-looking statements or in any other way, as far as
this is legally permissible. Vonovia does not provide any guarantees or
assurances (either explicitly or implicitly) in respect of the information
contained in this press release. Vonovia is not obliged to update or correct
the information, forward-looking statements or conclusions drawn in this
press release or to include subsequent events or circumstances or to report
inaccuracies that become known after the date of this press release.
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Additional features:
Document: http://n.eqs.com/c/fncls.ssp?u=TRCOKVMYYS
Document title: Debt Financing and Settlement
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26.03.2018 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Archive at www.dgap.de
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Language: English
Company: Vonovia SE
Universitätsstraße 133
44803 Bochum
Germany
Phone: +49 234 314 1609
Fax: +49 234 314 2995
E-mail: [email protected]
Internet: www.vonovia.de
ISIN: DE000A1ML7J1
WKN: A1ML7J
Indices: DAX
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated
Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover,
Munich, Stuttgart, Tradegate Exchange
End of News DGAP News Service
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668847 26.03.2018
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