BERLIN (dpa-AFX) - German apartment owner Vonovia SE (DAIMF) said that it 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 3.1 billion euros 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 aggregate debt volume of 3.1 billion euros 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 said it will report its consolidated Q1 results on May 3, including the first estimate for 2018 FFO 1 incl. BUWOG.
Copyright RTT News/dpa-AFX