Deal News - Real Estate Sector

Lincap advised Gewobag AG as exclusive debt advisor on the structuring and issuance of a EUR 147 million promissory note (“Schuldschein”).

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Lincap has advised Gewobag AG as exclusive debt advisor on the structuring and issuance of a Schuldschein in the amount of EUR 147 million. Tenors ranged from 10 to 30 years. The transaction was two times oversubscribed. The financing is for general corporate purposes including a substantial capex program.

 

Prior to the transaction Lincap put various financial instruments in competition. After selection of the financial instrument a competitive process between arrangers was conducted, which enabled optimal terms and conditions for the client.

 

André Friedrich, Divisional Head (Finance, Controlling and Taxes)

“This transaction provides an optimal benchmark for future transactions. The terms and conditions as well as the long tenors have exceeded our expectations. This reflects the value-add of Lincap throughout the process from preparation, structuring, negotiation up to signing and closing also for us as an frequent issuer.”

 

Jan-Willem Lindhout, Managing Director Lincap

“We are pleased to have advised Gewobag on this important transaction. Municipal housing corporations have access to vairous financial instruments and as an independent debt advisor we were able to define financing options without product or capital provider interests. The terms and conditions as well as the oversubscription show the attractiveness of the financing solution and underscore the very strong credit profil of Gewobag”. 

 

About Gewobag

Gewobag is one of the leading municipal housing companies in Germany. Its real estate portfolio comprises of approx. 60,000 residential units and 1.500 commercial units in Berlin. Special services, among other for senior citizens, are also offered. Gewobag’s portfolio reflects the variety of the city and provides a stable base in the regional housing market.  Social residential area management, climate protection und economic efficiency are equally important to Gewobag in relation to the development of future concepts. The foundation of “Stiftung Berliner Leben” established by Gewobag in 2013 allows for the company to take particular responsibility for the continuous development of the social residential area management in many quarters of the city. Focal point of the foundation is the promotion of equal participation and intercultural integration. Berliner Leben supports art, culture and sports as well as projects for adolescents and senior citizens.