Peach Property Group tops up hybrid bond
• Issue volume increases to a total of CHF 37.5 million
• Proceeds to be used for expanding the investment portfolio
Zurich, 7. April 2016 – Peach Property Group, an investor specialising in the management of residential property in Germany, today announced that is has topped up its hybrid bond issued in December 2015 by an additional CHF 12.5 million by way of a private placement with international investors to account for concrete interest shown by investors in recent months. This move also increases the Company’s equity since the funds from this subordinated bond are classified as equity in accordance with International Financial Reporting Standards (IRFS). The hybrid bond now has a total volume of CHF 35.7 million. Peach Property intends to use the funds primarily for the further expansion of the investment portfolio. In this context, the focus will be on high-yield residential properties in Germany.
The hybrid bond has a perpetual term and may be terminated by Peach Property Group no earlier than as at 15 December 2018. Up until that date, the bond will have a coupon of 5 percent p.a.; after that, the annual interest rate will be equivalent to the 3-month LIBOR rate plus 9.25 percent. The bond has been traded on SIX Swiss Exchange AG since 16 December 2015.
About Peach Property Group AG
Peach Property Group is a property investor and developer focused on investments in Germany and Switzerland. The Group stands for long time experience, competence and quality. Innovative solutions for modern housing needs, strong partnerships and a wide value chain complete the profile of the Group. The portfolio consists of an increasing number of high yield investment properties, typically in B-cities in close reach to metropolitan areas. In addition, the Group develops properties for its own portfolio or for the sale as condominium. Developments for sale focus on A-locations and encompass attractive architecture and high level furnishing for an international clientele. The business activities of the Group cover the entire value chain, from property acquisition and site selection to active asset management and finally to the sale or lease of properties.
Peach Property Group AG is headquartered in Zurich and has its German Group headquarters in Cologne. Peach Property Group AG is listed on the SIX Swiss Exchange (PEAN, ISIN CH0118530366).
For more information, see www.peachproperty.com
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