CPI Property S A : GROUP - Longer Debt Maturities and Lower Leverage

DGAP-News: CPI PROPERTY GROUP / Key word(s): Bond CPI PROPERTY GROUP - Longer Debt Maturities and Lower Leverage 18.05.2020 / 08:32 The issuer is solely responsible for the content of this announcement. CPI PROPERTY GROUP (société anonyme) 40, rue de la Vallée L-2661 Luxembourg R.C.S. Luxembourg: B 102 254 PRESS RELEASE Luxembourg, 18 May 2020 CPI PROPERTY GROUP - Longer Debt Maturities and Lower Leverage CPI Property Group ("CPIPG" or the "Group"), the leading owner of real estate in the Czech Republic, Berlin and the CEE region, is pleased to update our stakeholders regarding the Group's market-leading efforts to flatten debt maturities, reduce gross leverage and fortify our robust operating position. Green Bond Issue and Tender Offers On 12 May 2020, CPIPG closed the successful issuance of ?750 million 6-year senior unsecured green bonds. The new green bonds carry a fixed coupon of 2.75% and benefited from over ?1.8 billion of investor demand from fund managers, central banks, insurance companies and banks. On 16 May 2020, CPIPG completed tender offers through which the Group repurchased ?222.8 million of bonds due in 2022, US$73.1 million of bonds due in 2023 and ?456.7 million of bonds due in 2024, for a total notional amount of nearly ?750 million. As a result of the tender offers, CPIPG has no individual senior unsecured bond maturity exceeding ?387 million until 2026. "The green bond issue and tender offers enhanced CPIPG's capital structure flexibility," said Martin Nemecek, CEO of CPIPG. "The Group's high cash balances, strong cash flow, minimal debt maturities and access to multiple liquidity channels mean that CPIPG could confidently satisfy all obligations for the next 5 to 7 years without returning to the bond market." Ongoing Debt Repurchase Activities On 13 May 2020, CPIPG announced that the Group is considering the purchase of CHF bonds due in 2023 through open market purchases or private transactions. The Group expects to announce details of CHF bond purchases soon and intends to continue selectively repurchasing bonds and other instruments as part of the Group's effort to gradually reduce leverage and flatten the maturity profile. "CPIPG's actions are consistent with our rock-solid commitment to credit ratings and financial policy," said David Greenbaum, CFO of CPIPG. "Our business is highly resilient and the Group is well-prepared for the challenges and opportunities ahead." For more on CPI PROPERTY GROUP, visit our website: www.cpipg.com For further information please contact: INVESTORS CPI PROPERTY GROUP David Greenbaum Chief Financial Officer [e-mail] CPI PROPERTY GROUP Joe Weaver Director of Capital Markets [e-mail] MEDIA/PR Kirchhoff Consult AG Andreas Friedemann T [phone], F [phone] E [e-mail] 18.05.2020 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. Archive at www.dgap.de

Language:	English
Company:	CPI PROPERTY GROUP
	40, rue de la Vallée
	L-2661 Luxembourg
	Luxemburg
Phone:	[phone]
Fax:	[phone]
E-mail:	[e-mail]
Internet:	www.cpipg.com
ISIN:	LU0251710041
WKN:	A0JL4D
Listed:	Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Dusseldorf, Stuttgart
EQS News ID:	1048701

End of News	DGAP News Service

1048701  18.05.2020