Vonovia SE said Friday it has placed corporate bonds totaling €5 billion with an average coupon of 0.49 percent.
The company has successfully issued five unsecured and fixed-income bonds with a total volume of € 5 billion.
At over €20 billion, the bonds were oversubscribed four times. Due to this high investor demand, the company was able to obtain very attractive terms.
Vonovia placed a bond with a term of 30 years for the first time.
-€ 500 million / 2 years / coupon 0.0%
-€ 1,250 million / 4.25 years / coupon 0.0%
-€ 1,250 million / 7 years / coupon 0.25%
-€ 1,250 million / 11 years / coupon 0.75%
-€ 750 million / 30 years / coupon 1.625%
Vonovia said the proceeds are primarily intended for the refinancing of the bridge financing in connection with the intended merger with Deutsche Wohnen SE as well as the refinancing of upcoming maturities.
The issue follows corporate bonds with a volume of € 4 billion that were successfully placed in June 2021.
“Overall, we have made our very healthy financing base even more flexible with the new bonds. The fact that we were able to generate new financial resources amounting to 9 billion euros within three months shows our attractiveness on the capital market, ”said CFO Helene von Roeder.
“With a view to the desired merger with Deutsche Wohnen, we feel that we have further strengthened our debt capital side. The high level of investor interest shows that the desired merger is judged to be strategically sensible. It is now crucial that the shareholders of Deutsche Wohnen also accept our offer, ”added von Roeder.
