DGAP-News: CPI PROPERTY GROUP - positive rating developments and investor meetings

CPI PROPERTY GROUP
(société anonyme)
40, rue de la Vallée
L-2661 Luxembourg
R.C.S. Luxembourg: B 102 254

PRESS RELEASE
Luxembourg, 20 April 2018

CPI PROPERTY GROUP - positive rating developments and investor meetings

CPI PROPERTY GROUP ("CPIPG" or the "Company") announces that S&P Global Ratings has assigned a new "BBB" long-term preliminary issuer credit rating to CPIPG. In addition, Moody's Investor Service has changed the outlook on CPIPG's Baa3 rating from stable to positive.

"These rating actions are another big step forward in our journey as a strong investment grade rated company", said Martin Nemecek, CEO and member of the board. "CPIPG reported record operating results in 2017, streamlined our capital structure, and continued to improve occupancy and rents across our portfolio. We are pleased that the rating agencies have recognized our achievements, including improvements in credit metrics that were ahead of the expectations and a more conservative financial policy recently announced by the company. We are absolutely committed to maintaining and even improving our credit ratings in the future."

CPIPG also announced today that Barclays, Deutsche Bank, J.P. Morgan and UniCredit have been mandated as Joint Bookrunners and will arrange a series of fixed income investor meetings in Continental Europe and the U.K. commencing on Tuesday 24 April 2018. A benchmark size issue of Euro denominated, undated subordinated notes under Regulation S will follow, subject to market conditions. The undated subordinated notes are expected to be rated Ba2 by Moody's and BB+ by S&P and will have an initial non-call period between 5.5 and 7 years. J.P. Morgan is acting as Sole Structuring Agent to the Issuer.

"CPIPG's inaugural bond offerings in 2017 were extremely well-received by investors", said David Greenbaum, CFO of CPIPG. "The proposed offering of undated subordinated notes would further enhance our capital structure, and should be viewed favorably by investors who recognize the strength of our portfolio and the track record of our management team."

For further information please contact:

INVESTORS

CPI PROPERTY GROUP
David Greenbaum
Chief Financial Officer
d.greenbaum@cpipg.com

MEDIA/PR

Kirchhoff Consult AG
Andreas Friedemann
Borselstraße 20
22765 Hamburg
T +49 40 60 91 86 50
F +49 40 60 91 86 60
E andreas.friedemann@kirchhoff.de

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