Diok RealEstate AG

  • WKN: A2NBY2
  • ISIN: DE000A2NBY22
  • Land: Deutschland

Nachricht vom 02.03.2020 | 06:00

Diok RealEstate AG: DIOK RealEstate AG contemplating issue of a third tranche of its 6% corporate bond 2018/2023

DGAP-News: Diok RealEstate AG / Key word(s): Bond
02.03.2020 / 06:00
The issuer is solely responsible for the content of this announcement.

As part of its growth strategy, DIOK RealEstate AG, a company specialising in German office properties in secondary locations, is contemplating the issue of another tranche under its existing 6% corporate bond 2018/2023 (ISIN DE000A2NBY22), which is traded on the Open Market of the Frankfurt Stock Exchange.

If another tranche of the existing corporate bond is issued, the vast majority of the net issue proceeds are to be used for further expansion of the existing portfolio in line with the business strategy for new acquisitions on the German office property market. The company currently has a property portfolio with a market value of around EUR 205 million.

It will conduct a management roadshow to prepare for a financing decision. The final decision on issuing a third tranche will be made by the company's management, with the approval of the Supervisory Board, after evaluating the feedback from investors and taking account of the current market environment.

Markus Drews from the Management Board of Diok comments: "We have set ourselves a clear growth target and are aiming to build up a portfolio with a volume of around a billion euros in the medium term. We are currently in talks with a number of potential sellers of properties that could come into question for an acquisition by Diok. With the possible issue of a third tranche of the corporate bond that we issued last year, we want to finance this growth using a financing instrument that has already proven itself very effective for this purpose."

More details: www.diok-realestate.de

Press Contact:
Diok RealEstate AG
Peter Dietze-Felberg
T +49 (30) 28 44 987 62
E dietze@rueckerconsult.de

About Diok RealEstate AG

Diok RealEstate AG (DIOK) is a property company based in Cologne that specialises in German office real estate. The company's business focuses on setting up an attractive portfolio of office properties in good to excellent micro-environments of tier two cities. Labour-intensive activities have been outsourced in their entirety to third parties while remaining subject to DIOK's supervision and control. As an active portfolio and asset manager, DIOK thus achieves a steady capital growth and a positive cash flow from day one. In the medium term, DIOK intends to use its well-filled acquisition pipeline to build up a real estate portfolio worth EUR 1 billion.

02.03.2020 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.
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