DGAP-Adhoc: WESTGRUND Aktiengesellschaft: Refinancing completed considerably cheaper than expected


WESTGRUND Aktiengesellschaft  / Key word(s): Financing/Real Estate

22.12.2014 16:18

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.

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Berlin, 22.12.2014 -Westgrund AG has successfully refinanced the bridge
facility of the "Berlinovo"-Portfolio. Instead of the previously estimated
2.50% p.a. fixed interest rate over 7 years the rate has now been fixed at
2.14% p.a. with the same tenor.

Compared to the previous estimate this results in an annual interest saving
of c.900,000 Euro. For the sub-portfolios in Görlitz and Neubrandenburg
that are earmarked for sale the financing was kept variable and based on
Euribor, with an all-in interest rate of around 1.8% p.a. The sales are
already contractually fixed and are expected to close over the next couple
of months.

The bridge financing provided by Barclays has therefore now been replaced
with a long-term facility provided by Landesbank Baden-Württemberg (LBBW)
and fully paid back as planned before year-end. Based on the obtained
interest rate the average intest rate of Westgrund's loan portfolio falls
significantly below 3% p.a.


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.


22.12.2014 The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de

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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
 
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