Peach Property Group AG: Tender Offer on 4.375% Senior Notes due November 2025 successful

[ Report ]

Zürich (pta005/20.01.2025/06:42) - Ad hoc announcement pursuant to Art. 53 LR

* The average discount on the principal amount was 1.636%
* Outstanding principal amount reduced by €127,078,000 to €172,922,000.

Peach Property Group AG announces that the tender offer by its subsidiary Peach Property Finance GmbH (the «Offeror») with registered seat in Germany to holders of the outstanding 4.375% Senior Notes due 2025 (Reg S ISIN: XS2247301794, the «Notes») was successful. The total principal amount tendered by the holders of the Notes and accepted for purchase by the Offeror was €127,078,000, exceeding the original tender consideration offered by the Offeror. Due to the attractive prices determined through an Unmodified Dutch Auction Procedure, the Offeror decided to increase the total tender consideration, in accordance with the conditions described in offer to purchase dated 13 January 2025 (the «Offer to Purchase») by €24,999,297.50. The total tender consideration amounts therefore to €124,999,297.50, which corresponds to an average discount on the principal amount of approximately 1.636%. The payment of the tender consideration and accrued and unpaid interest to validly tendering holders is expected to be 22 January 2025.

Gerald Klink, CEO of Peach Property Group AG: «With the successful partial bond repurchase, we achieve a significant interim milestone in our financing initiatives for the current year. By proactively utilizing available liquidity, we are optimizing our balance sheet structure well ahead of the bond's maturity and significantly reducing our financial liabilities by €127,078,000. This also expands our options for the next steps in our upcoming refinancings.»

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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