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. --------------------------------------------------------------------------- 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 StraÃe 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 --------------------------------------------------------------------------- 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 ---------------------------------------------------------------------------
DGAP-Adhoc: WESTGRUND Aktiengesellschaft: Refinancing completed considerably cheaper than expected
| Source: EQS Group AG