- Coupon of 6.6% p.a., maturity date of 30 June 2016
- Investment-grade rating BBB- with listing in the Entry Standard of Deutsche Börse AG
- Net proceeds mainly for the acquisition of rental properties in Germany
- Smoothening of operating income thanks to portfolio acquisitions
Cologne, Zurich, 2 July 2012 – Peach Property Group (Deutschland) GmbH has reached a subscription volume of EUR 10.3 million (CHF 12.4 million) following expiry on 30 June 2012 of the subscription period for its corporate bond, which has a maturity date of 30 June 2016 and an interest coupon of 6.6% p.a. Alongside institutional investors, subscribers included funds. The proceeds from the bond will be deployed for the future growth of Peach Property Group in the German market. The intention is to develop a portfolio of investment properties to smoothen out the earnings volatility of development properties, and to finance current and forthcoming projects. The bond has been awarded an investment-grade rating of BBB- by respected rating agency Creditreform Rating AG, and is being traded in the Entry Standard of Deutsche Börse AG (ISIN: DE000A1KQ8K4; WKN: A1KQ8K).
Peach Property Group AG CEO Thomas Wolfensberger comments: “Despite the challenges currently facing Europe’s capital market environment, we have succeeded in attracting new investors and funds to the Peach Property Group business model and driving additional growth for the company through the bond subscription.”
Two sizeable portfolios of investment properties have already been acquired, one in Munster in the Lunenburg Heath south of Hamburg, the other in Erkrath near Düsseldorf. Further acquisitions are being considered on an ongoing basis. The overall market value of the group’s investment property portfolio currently stands at around EUR 47.7 million (CHF 57.5 million), with target rental income as per the end of January 2012 rising to EUR 3.8 million (CHF 4.6 million).
Peach Property Group (Deutschland) GmbH is a subsidiary of Swiss-based Peach Property Group AG, a leading developer of high-quality residential properties in German-speaking Europe. In line with current plans for 2012 and 2013, Peach Property Group AG will be completing a number of large high-quality residential development projects in Hamburg, Berlin and Kappl near Ischgl.
Investors and analysts:
Dr. Thomas Wolfensberger, Chief Executive Officer
Bruno Birrer, Chief Operating Officer
+41 44 485 50 00
Siro Barino, Barino Consulting
+41 79 335 24 24
About Peach Property Group
Peach Property Group AG is a leading developer in the field of top-quality residential property in the German-speaking region of Europe. Its activities cover the entire prime property development value chain, from site evaluation to project planning, implementation and marketing. Properties developed by Peach Property Group AG are located on exceptional sites in or near city centres and holiday resorts. Premier amenities meet the requirements of a demanding clientele. The company’s integrated corporate strategy includes not only the development of high-quality residential properties, but also the management of investment properties for the purpose of generating consistent annual revenues.
Peach Property Group AG is headquartered in Zurich and also has a branch office in Cologne. The Group’s current projects account for a total target marketing volume of approximately CHF 800 million. Peach Property Group AG is listed on SIX Swiss Exchange (PEAN, ISIN CH0118530366).
Visit www.peachproperty.com for more information.