Baloise Swiss Property Fund: planned capital increase for the acquisition of a property portfolio
June 18, 2021 at 01:05 am EDT
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Basel, June 18, 2021. The fund management company is examining the purchase of a property portfolio with a market value of around CHF 185.2 million for the Baloise Swiss Property Fund. In order to finance this transaction, the fund management company intends to carry out a capital increase and use external capital.
The Baloise Swiss Property Fund, a contractual investment fund that falls into the 'real estate fund' category for qualified investors pursuant to section 10 (3) and (3ter) of the Swiss Collective Investment Schemes Act (CISA), was successfully launched on 1 October 2018. Since its inception, the real estate fund has been developed on an ongoing basis. As at 31 March 2021, the fund comprised 56 properties with a total market value of CHF 618.5 million.
In order to further promote the growth of the Baloise Swiss Property Fund, the fund management company intends to purchase 17 properties with an aggregate value of CHF 185.2 million from Baloise Insurance Ltd and Baloise Life Ltd for the fund. The transaction was approved by the Swiss Financial Market Supervisory Authority (FINMA) on 9 June 2021 in accordance with section 63 (4) CISA in conjunction with section 32a CISO.
Plans for the financing of this property portfolio acquisition involve the issuance of new fund units and the use of external capital in August/September 2021. The acquisition of the portfolio provides an opportunity for the investors of the Baloise Swiss Property Fund to benefit from broader diversification. It comprises a total of 17 core/core plus properties across Switzerland. The properties are situated in high-quality locations and offer excellent stability in terms of earnings and value. Residential properties make up 83 per cent of the portfolio.
Indicative key data of the capital increase
Subscription period
10 August 2021 to 19 August 2021
Publication of terms of issue
Second half July 2021
Publication of issue prospectus
Early August 2021
Subscription payment deadline
1 September 2021
Approximate issue volume
CHF 130-140 million
The exact terms of the placement will be announced at a later date.
Further information on the 17 portfolio properties and the capital increase can be found on the Swiss Fund Data website and on the Baloise Swiss Property Fund's website.
Fund information
Name
Baloise Swiss Property Fund
Swiss securities no. / ISIN
41455103 / CH0414551033
Fund currency
Swiss francs
Appropriation of income
Distribution
Legal form
Contractual investment fund
Group of investors
Restricted to qualified investors within the meaning of article 10 (3) and (3ter) of the Swiss Collective Investment Schemes Act (CISA)
Baloise Holding AG published this content on 18 June 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 18 June 2021 05:04:05 UTC.
Baloise Holding AG is a Switzerland-based company that offers insurance and retirement solutions to private individuals and companies. The Company combines insurance and banking services and is active in Switzerland, Germany, Belgium and Luxembourg. The Company diversifies its activities into Non-life, Life, Asset Management & Banking and Other Activities business segments. The Nonlife segment includes accident and health insurances, as well as products of the liability, motor, property and marine sectors. The Life segment includes capital-forming insurance and risk covers, among others. The Asset Management & Banking operating segment encompasses banking-related areas of asset management as well as the actual banking area. The Other Activities segment comprises equity investment companies, real-estate firms and financing companies.
BÂLOISE HOLDING AG 
