DGAP-Adhoc: Westgrund AG receives financial commitment to replace bridge financing of 'Berlinovo'-Portfolio

| Source: EQS Group AG EQS Group AG 

WESTGRUND Aktiengesellschaft  / Key word(s): Financing

26.11.2014 08:44

Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

---------------------------------------------------------------------------

Westgrund AG receives financial commitment to replace bridge financing of
"Berlinovo"-Portfolio
 
Berlin, 26.11.2014 - Westgrund AG received the finanical commitment to
replace the bridge financing of the "Berlinovo"-Portfolio from a German
Landesbank. As a consequence, the obtained bridge financing for the
"Berlinovo"-Portfolio will be replaced by a final long-term financing.
 
Details of this loan will be fixed during the next weeks, valuing the loan
presumably in December 2014. As expected, the interest rate will be around
2.5% with a maturity of c. 7 years. The average interest rate of
Westgrund's credit portfolio will decrease to considerably below 3%. The
bridge financing provided by Barclays will be paid back at the same time.




Contact:
WESTGRUND AG
Management board: Arndt Krienen, Sascha Giest
E-Mail: vorstand@westgrund.de
Westgrund AG
Joachimsthaler Straße 34
10719 Berlin
Deutschland
Telephone:+49 30 2000 914 20
Facsimile: +49 30 6396192 28




About Westgrund AG:

WESTGRUND AG is a real estate company based in Berlin. With a clear focus
on housing, the company buys, manages, and develops residential portfolios
with appreciation potential in various regions in Germany that are marked
by auspicious and sound micro-environments. The company takes an active
asset management approach to raise the value-add in sustainable ways. The
company's assets are concentrated in the Berlin metro area, Lower Saxony
and the region of Halle, Leipzig.


26.11.2014 The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de

---------------------------------------------------------------------------
 
Language:     English
Company:      WESTGRUND Aktiengesellschaft
              Joachimsthaler Strasse 34
              10719 Berlin
              Germany
Phone:        +49 30 2000 914 20
Fax:          +49 30 639 619 228
E-mail:       krienen@westgrund.de
Internet:     www.westgrund.de
ISIN:         DE000A0HN4T3
WKN:          A0HN4T
Listed:       Regulierter Markt in Düsseldorf, Frankfurt (Prime Standard);
              Freiverkehr in Berlin, Hamburg, Stuttgart
 
End of Announcement                             DGAP News-Service
 
---------------------------------------------------------------------------