CPI PROPERTY GROUP
ORCO Germany S.A.: Standstill agreement for GSG loan
ORCO Germany S.A. / Key word(s): Agreement 18.04.2012 09:48 Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- GSG Asset GmbH & Co. Verwaltungs KG, a subsidiary of ORCO Germany S.A., and The Royal Bank of Scotland have signed a standstill agreement which defers the April 16, 2012 repayment obligation under the EUR 299 million GSG loan. The agreement includes conditions precedent, including a special redemption payment, lowering the outstanding loan amount to EUR 289 million. The first tranche of the special redemption payment has already been paid by GSG. The full payment is expected to be completed by the end of this week. After all conditions precedent are fulfilled, the standstill agreement will take effect on April 19, 2012 and will terminate on June 15, 2012. The Management Board ORCO Germany S.A. --------------------------------------------------------------------------- Information and Explaination of the Issuer to this News: Jean-François Ott, CEO of ORCO Germany S.A.: 'The conclusion of this agreement is another step along the way to secure the refinancing of ORCO-GSG.' 18.04.2012 DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------------- Language: English Company: ORCO Germany S.A. 40, Parc d'Activités Capellen 8308 Capellen Grand Duchy of Luxembourg Phone: +49 (0)30 390 93 116 Fax: +49 (0)30 390 93 199 E-mail: patricia.jaenisch@orco-gsg.de Internet: www.orcogermany.de ISIN: LU0251710041 WKN: A0JL4D Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Düsseldorf, Stuttgart End of Announcement DGAP News-Service ---------------------------------------------------------------------------
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