Deal News - Real Estate Sector

Lincap advised Gewobag AG as debt advisor on the structuring and issuance of a EUR 300 million promissory note (“Schuldschein”).

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Lincap advised Gewobag AG on the structuring and issuance of a Schuldschein in the amount of EUR 300 million. This is the second debt transaction that Lincap advised Gewobag on. The transaction was substantially oversubscribed. The financing is for capital expenditures as well as general corporate purposes. HSBC Trinkaus & Burkhardt AG und UniCredit Bank AG acted as joint arrangers.

 

The transaction was based on a competitive process defined and conducted by Lincap ensuring optimal terms and conditions for the borrower.   

 

Markus Terboven, Management Board Gewobag AG

“With this transaction we have successfully issued our third  schuldschein and thereby solidified our  position as issuer in the schuldschein market. Because of the professional support by Lincap we were able to fully achieve our objectives in terms of pricing, terms and transaction volume. This transaction is an important milestone in the financing and allows for a swift execution of our ambitious capital expenditure program”.

 

Jan-Willem Lindhout, Managing Director Lincap GmbH

“We are pleased to have advised Gewobag for the second time in relation to the structuring and issuance of a schuldschein. This third transaction reflects the relevance and the attractiveness of the schuldschein product for Gewobag. The oversubscription and very favorable conditions reflect the strength of the financing structure as well as the high quality credit profile 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.