EQS-News: Grand City Properties S.A. announces successful new bond issuance in combination with liability management exercise
EQS-News: Grand City Properties S.A.
/ Key word(s): Bond/Tender Offer
THIS ANNOUNCEMENT IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA, JAPAN, SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF APPLICABLE LAWS OR REGULATIONS GRAND CITY PROPERTIES S.A. ANNOUNCES SUCCESSFUL NEW BOND ISSUANCE IN COMBINATION WITH LIABILITY MANAGEMENT EXERCISE July 2, 2024 – Grand City Properties S.A. ("GCP" or the “Company”) announces the successful issuance of a new benchmark size bond with a total volume of €500 million (the “Issuance”). With this first Issuance in over three years, GCP is validating the Company’s access to capital markets. The issuance follows the Company’s successful perpetual exchange and tender transaction in April 2024. The new Series Y 2030 bond, with a nominal amount of €500 million, will carry a coupon of 4.375% and has a tenor of 5.5 years. The bond is expected to be rated BBB+ by S&P. The Issuance was oversubscribed with a very strong book of over €3.5 billion reflecting more than 7x the issue amount and has attracted very strong demand from high quality investors. The Issuance proceeds target the repayment of short-term debt and accordingly the Issuance is executed in conjunction with a liability management exercise, which was launched on July 1st and is expected to expire on July 8th. The liability management exercise targets over €1.4 billion in nominal value of bonds with near-term maturities through a tender process (together with the issuance the “Transaction”). The Transaction is aimed at extending the debt maturity profile, thus reducing refinancing risk and strengthening GCP’s balance sheet. About the Company The Company is a specialist in residential real estate, value-add opportunities in densely populated areas primarily in Germany and London. The Company’s strategy is to improve its properties by repositioning and intensive tenant management, and then create value by subsequently raising occupancy and rental levels. Further information: www.grandcityproperties.com Grand City Properties S.A. (ISIN: LU0775917882) is a public limited liability company (société anonyme) incorporated under the laws of the Grand Duchy of Luxembourg, having its registered office at 37, Boulevard Joseph II, L-1840 Luxembourg, Grand Duchy of Luxembourg and being registered with the Luxembourg trade and companies register (Registre de Commerce et des Sociétés Luxembourg) under number B 165 560. The shares of the Company are listed on the Prime Standard segment of Frankfurt Stock Exchange Contact: Grand City Properties S.A. Investor Relations Team:
DISCLAIMER: THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER TO SELL OR THE SOLICITATION OF AN OFFER TO BUY ANY SECURITIES. THE SECURITIES MENTIONED IN THIS ANNOUNCEMENT HAVE NOT BEEN, AND WILL NOT BE, REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE SECURITIES ACT), AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES ABSENT REGISTRATION OR AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT. THERE WILL BE NO PUBLIC OFFERING OF THE SECURITIES IN THE UNITED STATES. THIS ANNOUNCEMENT IS DIRECTED AT AND IS ONLY BEING DISTRIBUTED IN THE UNITED KINGDOM TO (I) PERSONS WHO HAVE PROFESSIONAL EXPERIENCE IN MATTERS RELATING TO INVESTMENTS FALLING WITHIN ARTICLE 19(5) OF THE FINANCIAL SERVICES AND MARKETS ACT 2000 (FINANCIAL PROMOTION) ORDER 2005 (THE ORDER), (II) HIGH NET WORTH ENTITIES, AND OTHER PERSONS TO WHOM IT MAY OTHERWISE LAWFULLY BE COMMUNICATED FALLING WITHIN ARTICLE 49 OF THE ORDER, AND (III) PERSONS TO WHOM IT MAY OTHERWISE LAWFULLY BE COMMUNICATED (ALL SUCH PERSONS TOGETHER BEING REFERRED TO AS RELEVANT PERSONS). THIS COMMUNICATION MUST NOT BE READ, ACTED ON OR RELIED ON BY PERSONS WHO ARE NOT RELEVANT PERSONS. ANY INVESTMENT OR INVESTMENT ACTIVITY TO WHICH THIS ANNOUNCEMENT RELATES IS AVAILABLE ONLY TO RELEVANT PERSONS AND WILL BE ENGAGED IN ONLY WITH RELEVANT PERSONS. IN MEMBER STATES OF THE EUROPEAN ECONOMIC AREA (EEA), THIS ANNOUNCEMENT AND ANY OFFER IF MADE SUBSEQUENTLY IS DIRECTED ONLY AT PERSONS WHO ARE “QUALIFIED INVESTORS” WITHIN THE MEANING OF ARTICLE 2(1)(E) OF DIRECTIVE 2003/71/EC, AS AMENDED (THE PROSPECTUS DIRECTIVE) (QUALIFIED INVESTORS). ANY PERSON IN THE EEA WHO ACQUIRES THE SECURITIES IN ANY OFFER (AN INVESTOR) OR TO WHOM ANY OFFER OF THE SECURITIES IS MADE WILL BE DEEMED TO HAVE REPRESENTED AND AGREED THAT IT IS A QUALIFIED INVESTOR. ANY INVESTOR WILL ALSO BE DEEMED TO HAVE REPRESENTED AND AGREED THAT ANY SECURITIES ACQUIRED BY IT IN THE OFFER HAVE NOT BEEN ACQUIRED ON BEHALF OF PERSONS IN THE EEA OTHER THAN QUALIFIED INVESTORS, NOR HAVE THE SECURITIES BEEN ACQUIRED WITH A VIEW TO THEIR OFFER OR RESALE IN THE EEA TO PERSONS WHERE THIS WOULD RESULT IN A REQUIREMENT FOR PUBLICATION BY THE COMPANY OR ANY OF THE MANAGERS OF A PROSPECTUS PURSUANT TO ARTICLE 3 OF THE PROSPECTUS DIRECTIVE. THIS ANNOUNCEMENT MAY CONTAIN PROJECTIONS OR ESTIMATES RELATING TO PLANS AND OBJECTIVES RELATING TO OUR FUTURE OPERATIONS, PRODUCTS, OR SERVICES, FUTURE FINANCIAL RESULTS, OR ASSUMPTIONS UNDERLYING OR RELATING TO ANY SUCH STATEMENTS, EACH OF WHICH CONSTITUTES A FORWARD-LOOKING STATEMENT SUBJECT TO RISKS AND UNCERTAINTIES, MANY OF WHICH ARE BEYOND THE CONTROL OF THE COMPANY. ACTUAL RESULTS COULD DIFFER MATERIALLY, DEPENDING ON A NUMBER OF FACTORS.
02.07.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. |
Language: | English |
Company: | Grand City Properties S.A. |
37, Boulevard Joseph II | |
L-1840 Luxembourg | |
Luxemburg | |
Phone: | +352 28 77 87 86 |
Fax: | +352 28 77 87 84 |
E-mail: | info@grandcity.lu |
Internet: | grandcityproperties.com |
ISIN: | LU0775917882, LU0775917882 , XS1491364953, XS1811181566, XS2271225281, XS1220083551, XS1654229373, XS1706939904, XS1706939904, XS1763144604, XS1781401085, CH0401956872, XS1827041564, XS1851265527, XS1953786222, XS1964638446, CH0482172415, XS2016885159, XS2033380820, XS2035328223, XS2154325562, XS2282101539, |
WKN: | A1JXCV , A1ZRRK, A1ZW4K, A1ZZ49, A186BF, A18YJ1, A19ZQE, A19MBW, A1V4P0, A19WVU, A19WU2 |
Indices: | SDAX |
Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange; Dublin, Luxembourg Stock Exchange, SIX |
EQS News ID: | 1938263 |
End of News | EQS News Service |
|
1938263 02.07.2024 CET/CEST
Boersengefluester.de (BGFL) provides an overview of the key figures on sales, earnings, cash flow and dividends to help you better assess the fundamental development of the respective companies. All information is entered manually in our database - the source is the respective annual reports. All estimates for future figures are provided by BGFL.
The most important financial data at a glance | ||||||||
2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024e | ||
Sales1 | 545,23 | 560,30 | 535,42 | 524,63 | 582,51 | 607,74 | 0,00 | |
EBITDA1,2 | 275,53 | 297,66 | 299,78 | 298,59 | 308,10 | 319,65 | 0,00 | |
EBITDA-Margin3 | 50,54 | 53,13 | 55,99 | 56,91 | 52,89 | 52,60 | 0,00 | |
EBIT1,4 | 779,74 | 692,87 | 640,16 | 985,99 | 413,80 | -581,56 | 0,00 | |
EBIT-Margin5 | 143,01 | 123,66 | 119,56 | 187,94 | 71,04 | -95,69 | 0,00 | |
Net Profit (Loss)1 | 583,03 | 493,36 | 449,07 | 617,09 | 179,10 | -638,07 | 0,00 | |
Net-Margin6 | 106,93 | 88,05 | 83,87 | 117,62 | 30,75 | -104,99 | 0,00 | |
Cashflow1,7 | 224,52 | 249,49 | 242,15 | 217,06 | 216,12 | 249,41 | 0,00 | |
Earnings per share8 | 2,76 | 2,30 | 2,01 | 2,90 | 0,76 | -1,65 | 0,69 | |
Dividend per share8 | 0,77 | 0,82 | 0,82 | 0,83 | 0,00 | 0,00 | 0,00 |
1 in Mio. Euro; 2 EBITDA = Earnings before interest, taxes, depreciation and amortisation; 3 EBITDA in relation to sales; 4 EBIT = Earnings before interest and taxes; 5 EBIT in relation to sales; 6 Net profit (-loss) in relation to sales; 7 Cashflow from operations; 8 in Euro; Source: boersengefluester.de
Auditor: KPMG
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INVESTOR-INFORMATION | ||||||
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Grand City Properties | ||||||
WKN | ISIN | Legal Type | Marketcap | IPO | Recommendation | Plus Code |
A1JXCV | LU0775917882 | SA | 2.008,54 Mio € | 29.05.2012 | Halten | 8FX8J49G+J6 |
PE 2025e | PE 10Y-Ø | BGFL-Ratio | Shiller-PE | PB | PCF | KUV |
20,00 | 9,21 | 2,17 | 5,25 | 0,58 | 8,05 | 3,30 |
Dividend '2022 in € |
Dividend '2023 in € |
Dividend '2024e in € |
Div.-Yield '2024e in % |
0,00 | 0,00 | 0,00 | 0,00% |
Annual General Meeting | Q1-figures | Q2-figures | Q3-figures | Annual press conference |
26.06.2024 | 14.05.2025 | 13.08.2025 | 14.11.2024 | 12.03.2025 |
Distance 60-days-line | Distance 200-days-line | Performance YtD | Performance 52 weeks | IPO |
-7,22% | -0,49% | +12,32% | +15,97% | +307,14% |
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