DGAP-News: TLG IMMOBILIEN AG successfully places perpetual notes and bonds in total amount of EUR 1 Billion EUR
DGAP-News: TLG IMMOBILIEN AG
/ Key word(s): Real Estate/Mergers & Acquisitions
TLG IMMOBILIEN AG successfully places perpetual notes and bonds in total amount of EUR 1 Billion EUR
17.09.2019 / 19:57
The issuer is solely responsible for the content of this announcement.
TLG IMMOBILIEN AG successfully places Subordinated unsecured and Senior Notes in total amount of EUR 1 Billion EUR
- EUR 500 million three-year senior unsecured notes
- EUR 500 million perpetual subordinated notes with first reset date in 2024
- Blended interest rate of 1,875% per year
- Establishes long term financing for TLG's acquisition of the shares of Aroundtown and future growth
Berlin, 17 September 2019 - TLG IMMOBILIEN AG (ISIN: DE000A12B8Z4), announced today the successful raising of EUR 1 Billion EUR in form of a three-year unsecured notes (EUR 500 million) as well as perpetual subordinated notes (EUR 500 million) with first reset date in 2024. The combined offering has a blended coupon of 1.875% per year (3.375% for the perpetual notes and 0.375% for the unsecured bond).
The net proceeds from these issuances allow TLG to finance completely the recent acquisition of a stake of 9.99% in the share capital of Aroundtown S.A. and in subject to regulatory approvals, to finance the potential exercise of the option to acquire an additional stake of up to 4.99% in the share capital of Aroundtown using a long term capital structure.
The issuance of the perpetual subordinated bond further supports TLG rating agencies' metrics and provides headroom for additional growth. Recently, both Standard & Poor's and Moody's have given a positive outlook on the ratings of TLG IMMOBILIEN (BBB by Standard & Poor's and Baa2 by Moody's) in light of the prospect of a potential merger with Aroundtown.
Barak Bar-Hen, Chief Executive Officer of TLG IMMOBILIEN AG: "We appreciate the fact that the debt market and rating agencies support this 1 Bn EUR placement, underlined by 2.7x order book oversubscription. The subordinated bond also ensures that we now have the appropriate equity cushion from a rating agencies perspective for the entire 15% stake in Aroundtown. We have now taken an important further step towards a successful merger with Aroundtown. We look forward to launching the discussions with Aroundtown regarding the best technical way to execute the potential merger with the view to becoming a leading commercial player in Europe."
Gerald Klinck, Chief Financial Officer of TLG IMMOBILIEN AG: "The dividend yield of 3.3% of the Aroundtown stake and the interest costs of 1.875% provide us with an FFO-accretion from day one."
JP Morgan and Deutsche Bank successfully led both transactions.
CONTACT
Christoph Wilhelm
Corporate Communications
Phone: +49 30 2470 6355
E-mail: [email protected] |
Lisa Geppert
Investor Relations
Phone: +49 30 2470 6092
E-mail: [email protected] |
ABOUT TLG IMMOBILIEN AG
For over 25 years, the listed company TLG IMMOBILIEN AG has owned and rented out commercial properties in selected promising locations in Germany. The company continuously develops its portfolio and actively generates value through strategic investments and selected property acquisitions. As at 30 June 2019, its portfolio contains properties worth EUR 4.6 bn. As at the same reporting date, the adjusted EPRA Net Asset Value per share amounted to EUR 29.77. The portfolio comprises office properties in cities including Berlin, Dresden, Frankfurt/Main, Leipzig and Rostock. It also contains a regionally diversified portfolio of retail properties, primarily in the neighbourhood shopping segment, in promising micro-locations as well as seven hotels in top central locations. The properties of TLG IMMOBILIEN AG stand out not only due to their excellent locations but also because of their long-term rental or lease agreements. Its highly qualified employees guarantee extensive local market expertise at its individual locations.
17.09.2019 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: |
TLG IMMOBILIEN AG |
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Hausvogteiplatz 12 |
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10117 Berlin |
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Germany |
Phone: |
030 - 2470 - 50 |
Fax: |
030 - 2470 - 7337 |
E-mail: |
[email protected] |
Internet: |
www.tlg.de |
ISIN: |
DE000A12B8Z4 |
WKN: |
A12B8Z |
Indices: |
SDAX |
Listed: |
Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Stuttgart, Tradegate Exchange |
EQS News ID: |
875251 |
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End of News |
DGAP News Service |
875251 17.09.2019
Die wichtigsten Finanzdaten auf einen Blick
|
|
2017 |
2018 |
2019 |
2020 |
2021 |
2022 |
2023e |
Umsatzerlöse1 |
168,31 |
223,89 |
229,77 |
216,94 |
172,68 |
203,20 |
0,00 |
EBITDA1,2 |
128,02 |
173,92 |
828,27 |
285,40 |
180,19 |
213,20 |
0,00 |
EBITDA-Marge3 |
76,06 |
77,68 |
360,48 |
131,56 |
104,35 |
104,92 |
|
EBIT1,4 |
346,16 |
561,05 |
826,54 |
645,35 |
366,86 |
211,30 |
0,00 |
EBIT-Marge5 |
205,67 |
250,59 |
359,73 |
297,48 |
212,45 |
103,99 |
0,00 |
Jahresüberschuss1 |
284,37 |
310,95 |
578,32 |
492,30 |
315,05 |
55,25 |
0,00 |
Netto-Marge6 |
168,96 |
138,89 |
251,70 |
226,93 |
182,45 |
27,19 |
0,00 |
Cashflow1,7 |
100,68 |
161,88 |
131,92 |
140,62 |
156,52 |
180,98 |
0,00 |
Ergebnis je Aktie8 |
3,56 |
2,99 |
5,30 |
4,61 |
3,12 |
0,41 |
0,57 |
Dividende8 |
0,82 |
0,91 |
0,96 |
1,02 |
0,94 |
0,93 |
0,80 |
Quelle: boersengefluester.de und Firmenangaben
Geschäftsbericht 2022 - Kostenfrei herunterladen.
1 in Mio. Euro; 2 EBITDA = Ergebnis vor Zinsen, Steuern und Abschreibungen; 3 EBITDA in Relation zum Umsatz; 4 EBIT = Ergebnis vor Zinsen und Steuern; 5 EBIT in Relation zum Umsatz; 6 Jahresüberschuss (-fehlbetrag) in Relation zum Umsatz; 7 Cashflow aus der gewöhnlichen Geschäftstätigkeit; 8 in Euro; Quelle: boersengefluester.de
Wirtschaftsprüfer: Fair Audit
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INVESTOR-INFORMATIONEN |
©boersengefluester.de |
TLG Immobilien |
WKN |
Kurs in € |
Einschätzung |
Börsenwert in Mio. € |
A12B8Z |
14,900 |
Halten |
1.685,49 |
KGV 2025e |
KGV 10Y-Ø |
BGFL-Ratio |
Shiller-KGV |
12,96 |
14,94 |
0,87 |
5,68 |
KBV |
KCV |
KUV |
EV/EBITDA |
0,63 |
9,31 |
8,29 |
13,30 |
Dividende '22 in € |
Dividende '23e in € |
Div.-Rendite '23e in % |
Hauptversammlung |
0,93 |
0,00 |
0,00 |
04.07.2023 |
Q1-Zahlen |
Q2-Zahlen |
Q3-Zahlen |
Bilanz-PK |
- |
- |
- |
29.03.2023 |
Abstand 60Tage-Linie |
Abstand 200Tage-Linie |
Performance YtD |
Performance 52 Wochen |
-0,22% |
0,11% |
-0,67% |
-15,82% |
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