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MarketScreener Homepage  >  Equities  >  Xetra  >  TLG Immobilien AG    TLG   DE000A12B8Z4

TLG IMMOBILIEN AG

(TLG)
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TLG IMMOBILIEN AG: SUCCESSFUL ISSUER SUBSTITUTION PROCESS COMPLETED FOR SENIOR BONDS; HOLDERS OF PERPETUAL NOTES VOTE IN FAVOUR OF ISSUER SUBSTITUTION

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08/21/2020 | 08:00am EDT

DGAP-News: TLG IMMOBILIEN AG / Key word(s): Real Estate/Financing
TLG IMMOBILIEN AG: SUCCESSFUL ISSUER SUBSTITUTION PROCESS COMPLETED FOR SENIOR BONDS; HOLDERS OF PERPETUAL NOTES VOTE IN FAVOUR OF ISSUER SUBSTITUTION

21.08.2020 / 12:56
The issuer is solely responsible for the content of this announcement.


NOT FOR DISTRIBUTION IN OR INTO OR TO ANY PERSON LOCATED OR RESIDENT IN THE UNITED STATES, ITS TERRITORIES AND POSSESSIONS (INCLUDING PUERTO RICO, THE U.S. VIRGIN ISLANDS, GUAM, AMERICAN SAMOA, WAKE ISLAND AND THE NORTHERN MARIANA ISLANDS), ANY STATE OF THE UNITED STATES OR THE DISTRICT OF COLUMBIA (THE "UNITED STATES") OR IN OR INTO OR TO ANY PERSON RESIDENT OR LOCATED IN ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO PUBLISH OR DISTRIBUTE THIS DOCUMENT.

SUCCESSFUL ISSUER SUBSTITUTION PROCESS COMPLETED FOR SENIOR BONDS; HOLDERS OF PERPETUAL NOTES VOTE IN FAVOUR OF ISSUER SUBSTITUTION

21 August 2020 - TLG IMMOBILIEN AG (the "Company") and its major shareholder Aroundtown SA ("Aroundtown") successfully completed the issuer substitution process for the Company's outstanding Senior Bonds. In addition, holders of the Company's Perpetual Notes voted in favour of the issuer substitution expressing the strong investor support. The Company expects the substitution process for the Perpetual Notes to be formally completed following the lapse of the mandatory challenging period by end of September 2020.

The completion of the issuer substitution process regarding the Senior Bonds along with high consensus from holders of the Perpetual Notes brings together all capital market instruments under Aroundtown. As consideration for the Substitution, the Company and Aroundtown have agreed that the Senior Bonds and the Perpetual Notes will be replaced by intra-group instruments that will effectively maintain the same capital structure of the Company. The pooling of capital market instruments on the level of Aroundtown as the new parent company of the Combined Group, is paving the way for realization of potential future financial synergies as identified by the Company and Aroundtown.

Contact
TLG IMMOBILIEN AG
E-Mail: IR@TLG.DE

About the Company
For over 25 years, the listed company TLG IMMOBILIEN AG has owned and rented out commercial properties in selected promising locations in Germany. The company continuously develops its portfolio and actively generates value through strategic investments and selected property acquisitions. As at 31 March 2020, its portfolio contains properties worth EUR 4.9 bn. As at the same reporting date, the adjusted EPRA Net Asset Value per share amounted to EUR 33.99. The portfolio comprises office properties in cities including Berlin, Dresden, Frankfurt/Main, Leipzig and Rostock. It also contains a regionally diversified portfolio of retail properties, primarily in the neighbourhood shopping segment, in promising micro-locations as well as seven hotels in top central locations. The properties of TLG IMMOBILIEN AG stand out not only due to their excellent locations but also because of their long-term rental or lease agreements. Its highly qualified employees guarantee extensive local market expertise at its individual locations.


21.08.2020 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: TLG IMMOBILIEN AG
Hausvogteiplatz 12
10117 Berlin
Germany
Phone: 030 - 2470 - 50
Fax: 030 - 2470 - 7337
E-mail: ir@tlg.de
Internet: www.tlg.de
ISIN: DE000A12B8Z4
WKN: A12B8Z
Listed: Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Stuttgart, Tradegate Exchange
EQS News ID: 1121639

 
End of News DGAP News Service

1121639  21.08.2020 

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© EQS 2020

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Sales 2020 244 M 288 M 288 M
Net income 2020 226 M 266 M 266 M
Net Debt 2020 1 816 M 2 145 M 2 145 M
P/E ratio 2020 7,66x
Yield 2020 6,17%
Capitalization 1 793 M 2 118 M 2 118 M
EV / Sales 2020 14,8x
EV / Sales 2021 14,4x
Nbr of Employees 153
Free-Float 9,55%
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Mean consensus OUTPERFORM
Number of Analysts 5
Average target price 24,33 €
Last Close Price 15,98 €
Spread / Highest target 87,7%
Spread / Average Target 52,2%
Spread / Lowest Target 9,51%
EPS Revisions
Managers
NameTitle
Barak Bar-Hen Chairman-Management Board & CEO
Sascha Hettrich Chairman-Supervisory Board
Ronny Schneider Chief Operating Officer
Gerald Klinck Chief Financial Officer
Helmut Ullrich Member-Supervisory Board
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