04. Juni 2012 
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Conwert begins road show for retail bond
The conwert Immobilien Invest SE begins the road show for placing a corporate bond today with a presentation in Vienna. The bond denominated in units of € 1,000, is intended especially for Austrian retail investors and will be offered in Austria, Germany and Luxembourg from 11 June 2012 to 13 June 2012 (subject to premature closing). The term of the fixed-interest bond amounts to five years. The interest rate, volume and issue price will be determined and published prior to the beginning of the subscription period.
The net proceeds from the issue of the retail bond serve for the repayment of the conwert convertible bonds, the further optimisation of the financing structure of the company as well as general corporate purposes.
Conwert intends to submit an application for admission of the bonds to trading in the Second Market of the Vienna Stock Exchange. The issue price will be published prior to the subscription period. Raiffeisen Bank International AG and UniCredit Bank Austria AG are the lead managers.
As of 31 December 2011, conwert owns a high-quality property portfolio totalling roughly € 2.8 billion and operates primarily in Austria and Germany. conwert has a solid financing structure – some 80 percent of the financial liabilities are secured by mortgage. With a joint venture with the Bavarian construction and sales specialist denkmalneu GmbH, which was only recently set up, as well as the establishment of a sales platform, conwert is also ensuring access to metropolitan areas which show significant potential for value increases.
On 29 May 2012, conwert published the results of the first quarter of 2012 and recorded a significant increase in earnings before interest and tax (EBIT). In addition, the first positive effects of internal measures designed to optimise costs, which are consistently implemented in the current financial year, are to be seen. With a view of the entire year 2012, conwert confirmed the target of earnings before tax of roughly 50 million € as announced at the beginning of the year.
The net proceeds from the issue of the retail bond serve for the repayment of the conwert convertible bonds, the further optimisation of the financing structure of the company as well as general corporate purposes.
Conwert intends to submit an application for admission of the bonds to trading in the Second Market of the Vienna Stock Exchange. The issue price will be published prior to the subscription period. Raiffeisen Bank International AG and UniCredit Bank Austria AG are the lead managers.
As of 31 December 2011, conwert owns a high-quality property portfolio totalling roughly € 2.8 billion and operates primarily in Austria and Germany. conwert has a solid financing structure – some 80 percent of the financial liabilities are secured by mortgage. With a joint venture with the Bavarian construction and sales specialist denkmalneu GmbH, which was only recently set up, as well as the establishment of a sales platform, conwert is also ensuring access to metropolitan areas which show significant potential for value increases.
On 29 May 2012, conwert published the results of the first quarter of 2012 and recorded a significant increase in earnings before interest and tax (EBIT). In addition, the first positive effects of internal measures designed to optimise costs, which are consistently implemented in the current financial year, are to be seen. With a view of the entire year 2012, conwert confirmed the target of earnings before tax of roughly 50 million € as announced at the beginning of the year.
