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    BALN   CH0012410517

BÂLOISE HOLDING AG

(BALN)
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Baloise Swiss Property Fund: planned capital increase for the acquisition of a property portfolio

06/18/2021 | 01:05am EDT
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)
Fund management/
portfolio management company
Baloise Asset Management AG, Basel
Custodian bank UBS Switzerland AG, Zurich
OTC trading Bank J. Safra Sarasin AG, Zurich
Inception date 1 October 2018
Contact
Roberto Brunazzi
Head of Media Relations
Phone +41 58 285 82 14 Email media.relations@baloise.com

Disclaimer

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.


© Publicnow 2021
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