TAG Immobilien AG Announces New Convertible Bond Offering

TAG Immobilien AG is set to launch an offering of unsecured convertible bonds amounting to approximately EUR 325 million. This new financial initiative will see the bonds due on March 11, 2031, and have an individual denomination of EUR 100,000. The bonds are convertible into new or existing shares of the company, representing around 10% of its share capital. Alternatively, they can be repaid in cash.

The bond issuance, conducted using the authorization from the company's annual meeting, will exclude shareholders' pre-emptive rights. The bonds will carry a coupon of 0.625% per annum, payable semi-annually. The conversion premium is expected to be between 35% and 40% above the volume-weighted average price of the shares during the offering period.

This financial maneuver is intended to serve general corporate purposes, with private placements targeting institutional investors outside several jurisdictions.