Peach Property Group AG: Update on refinancing strategy

[ Report ]

Zürich (pta024/29.10.2024/18:00) - Corporate news for the stock market

Peach Property Group AG (the "Company"), a property investor with an investment focus on residential real estate in Germany, gives an update on its refinancing strategy.

With the aim to refinance the outstanding €300 million aggregate principal amount of senior notes due November 2025 (the "Notes"), the Company entered into initial discussions with several holders of the Notes regarding a potential extension of the maturity of the Notes and related amendments to their terms. The Company has received initial feedback from these holders, but in view of the pending rights offering it has chosen to pause these discussions to focus on its equity raise. The Company will continue to refine its broader strategy and evaluate options and may seek to resume discussions with holders of the Notes and other creditors, as the case may be, at the appropriate time.

Contacts:

Media, investors and analysts

Gerald Klinck, Chief Executive Officer
+41 44 485 50 00 | investors@peachproperty.com

Media Germany

Rosenberg Strategic Communications GmbH & Co. KG
Dirk T. Schmitt, Managing Partner
+49 170 302 8833 | D.Schmitt@RosenbergSC.com

About Peach Property Group AG

Peach Property Group is a property investor focused on residential investment in Germany. The group stands for many years of experience, expertise and quality. Innovative solutions for tenants' needs, strong partnerships and a broad value chain complete the profile, while digitalization and sustainability characterize the operational business. The portfolio consists of high-yield properties, typically in German Tier II cities in the catchment areas of major metropolitan areas. Activities therefore cover the entire value chain, from site evaluation and acquisition to active asset management and the letting or sale of properties. In addition, the Group is developing selected properties in Switzerland for sale as condominiums, the latest of which is the "Peninsula Wädenswil" project.

Peach Property Group AG is headquartered in Zurich and has its German headquarters in Cologne. Peach Property Group AG is listed on the SIX Swiss Exchange (PEAN, ISIN CH0118530366). The Board of Directors includes Michael Zahn (Chairman), Cyrill Schneuwly, Beat Frischknecht, Urs Meister and Eric Assimakopoulos.

Further information: https://www.peachproperty.com/en/

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