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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Summit Germany | LSE:SMTG | London | Ordinary Share | GG00BJ4FZW09 | ORD NPV |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 1.185 | 1.18 | 1.19 | 0.00 | 01:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| 0 | 0 | N/A | 0 |
From Apr 2019 to Apr 2024
TIDMSMTG
RNS Number : 1917C
Summit Germany Limited
17 January 2018
This announcement contains inside information which is disclosed in accordance with the Market Abuse Regulation.
Summit Germany Limited
(the "Company")
Successful EUR300m Bond Placement
17 January 2018
Further to its announcements on 15 January 2018, Summit Germany Limited, the German commercial real estate company, is pleased to announce that it has successfully placed EUR300 million of senior fixed rate notes ("Senior Notes"). Due to strong demand, the Company upsized the offering of the Senior Notes from the originally announced volume of EUR250 million. The Senior Notes have a term of seven years and an interest rate of 2.00% p.a. The Senior Notes will be issued under New York law and are expected to be admitted to trading on the Euro MTF Market on the Luxembourg Stock Exchange. Standard & Poor's and Moody's rated the Senior Notes with "BBB-" and "Ba1", respectively. The net proceeds from the issue of the Senior Notes will be used to refinance existing secured indebtedness of certain subsidiaries of the Company and for general corporate purposes including the acquisition of assets.
As of 30 September 2017, on a pro forma basis assuming the offering of the Senior Notes had occurred, the Company's cost of debt amounted to 2.5%, the weighted average debt maturity amounted to 6.7 years, the amount of unencumbered assets was c. EUR705 million and the interest coverage ratio amounted to 4.8x, respectively.
For further information please contact:
Summit Germany Limited Tel: +44 (0) 1481 700 300 Zohar Levy - Managing Director Itay Barlev (Braun) - Finance Director Non-Executive Chairman Tel: +44 (0) 20 7451 7050 Harry Hyman Carey Group, Company Secretary Tel: +44 (0) 1481 700 300 Sara Bourne Liberum Capital Limited, Nominated Tel: +44 (0) 20 3100 2222 Adviser and Joint Broker Chris Clarke / Jill Li Cenkos Securities, Joint Broker Tel: +44 (0) 20 7397 8900 Mark Connelly Russell Kerr / Selwyn Jones (Broking)
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCFKODBOBKDNDD
(END) Dow Jones Newswires
January 17, 2018 12:30 ET (17:30 GMT)
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