Deutsche Konsum REIT : extends convertible bonds and significantly reduces its financing costs - increase in the FFO forecast for the financial year 2018/2019

Deutsche Konsum REIT-AG / Key word(s): Forecast/Bond
Deutsche Konsum REIT extends convertible bonds and significantly reduces its financing costs - increase in the FFO forecast for the financial year 2018/2019

26-Sep-2018 / 19:06 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014

Deutsche Konsum REIT extends convertible bonds and significantly reduces its financing costs - increase in the FFO forecast for the financial year 2018/2019

Broderstorf, 26 September 2018 - Deutsche Konsum REIT-AG (ISIN DE000A14KRD3) today has agreed an extension of the two outstanding convertible bonds 2015/2020 by five years until 30 January 2025 with the bondholders.

Linked to this is the modification of the terms and conditions of the bond so that the coupon of the EUR 30 million bond of 5.0% p.a. is reduced to 1.35% p.a. The coupon of the EUR 7 million bond, however, remains at 1.0% p.a. Furthermore, conversion prices of each convertible bond will be raised by 7% and 5%, resulting in a reduction in dilution of around 5% overall at the time of conversion.

The reduction of the coupon reduces DKR's overall average debt financing costs to 1.87% p.a. (previously 2.33% p.a.).

The modified terms and conditions shall come into effect on 1 November 2018 and will relieve the FFO by around EUR 1.1 million per annum. This results in an increase in the FFO forecast to EUR 26 million to EUR 29 million (previously EUR 25 to 28 million) for the financial year 2018/2019.

Contact: Deutsche Konsum REIT-AG Mr. Christian Hellmuth CFO August-Bebel-Str. 68 14482 Potsdam Tel. 0331 / 74 00 76 - 517 Fax: 0331 / 74 00 76 - 520 E-Mail: [e-mail]

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