Global law firm White & Case LLP has advised ACCENTRO Real Estate AG (ACCENTRO), a leading real estate provider in Germany that specialises in the retailing of large housing portfolios, on the issue of an unsecured corporate bond with a total volume of €250 million.
The bond under German law has a term until 2023, an annual interest coupon of 3.625% and will be listed on the Euro MTF market of the Luxembourg Stock Exchange. The bond issue enables ACCENTRO, among other things, to redeem existing financial liabilities and finance further growth.
At the same time, ACCENTRO made a cash offer to buy back a €100 million bond issued in 2018. The majority of the bondholders accepted ACCENTRO's offer. The transaction will be financed from the funds of the new issue.
The White & Case team in Frankfurt was led by local partner Sébastien Seele, partners Gernot Wagner and Karsten Wöckener and included partners Rebecca Emory, Holger Wolf and Bodo Bender, counsel Alexander Born and associates Daniel Rogits, Peter Becker and Sandra D'Ascenzo.
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