DGAP-News: Grand City Properties S.A.

DGAP-News: Grand City Properties S.A.,: ANNOUNCES REDEMPTION OF OUTSTANDING SERIES B BONDS

Grand City Properties S.A., / Schlagwort(e): Anleihe/Extra keyword

19.11.2014 08:30

Veröffentlichung einer Corporate News, übermittelt durch DGAP - ein Service der EQS Group AG. Für den Inhalt der Mitteilung ist der Emittent / Herausgeber verantwortlich.

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NOT FOR DISTRIBUTION IN OR INTO OR TO ANY PERSON LOCATED OR RESIDENT IN THE UNITED STATES, ITS TERRITORIES AND POSSESSIONS (INCLUDING PUERTO RICO, THE U.S. VIRGIN ISLANDS, GUAM, AMERICAN SAMOA, WAKE ISLAND AND THE NORTHERN MARIANA ISLANDS), ANY STATE OF THE UNITED STATES OR THE DISTRICT OF COLUMBIA (the United States) OR TO ANY U.S. PERSON OR IN ANY OTHER JURISDICTION WHERE SUCH DISTRIBUTION IS UNLAWFUL.

GRAND CITY PROPERTIES S.A. ANNOUNCES REDEMPTION OF OUTSTANDING SERIES B BONDS

19 November 2014.

Grand City Properties S.A. (the "Company") announces that it has resolved to exercise its right to redeem the outstanding EUR 350 million 6.25 per cent. senior secured series B bonds due 2020 (the "Series B Bonds") in accordance with the terms and conditions of the Series B Bonds and a formal notice to this effect will be sent today to the holders of the Series B Bonds.

As at today's date, the principal amount of the Series B Bonds outstanding is EUR18,167,000, which represents 5.2% of the principal amount of the Series B Bonds originally issued.

The outstanding Series B Bonds will be redeemed at their principal amount on 5 January 2015 (together with accrued and unpaid interest to that date).

About the Company

Grand City Properties is a specialist real estate company focused on investing in and managing turnaround opportunities in the real estate property market in Germany, primarily in densely populated areas. The Company's strategy is to improve its properties through targeted modernisation and intensive tenant management, and then create value by subsequently raising occupancy and rental levels. For the nine months ending 30 September 2014, the Company reported an EBITDA of EUR 219 million (YOY increase of 39%), and a net profit of EUR 174 million (YOY increase of 27%). EPRA NAV amounts to EUR 1,342 million. Since May 2012, Grand City Properties is listed on the Frankfurt Stock Exchange Entry Standard. The company is rated BB+ by Standard and Poors (stable outlook). Further information: www.grandcityproperties.com.

Grand City Properties (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 24, Avenue Victor Hugo , L 1750 Luxembourg and being registered with the Luxembourg trade and companies register (Registre de Commerce et des Sociétés Luxembourg) under number B 165560.

Contact: Grand City Properties S.A. 24, Avenue Victor Hugo L 1750 Luxemburg T: +352 28 77 87 86 www.grandcityproperties.com

Press Contact: Katrin Petersen Grand City Properties S.A. T: +49 (30) 887088-1128 E: katrin.petersen@grandcity.lu www.grandcityproperties.com

Disclaimer:

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.

The distribution of this announcement in certain jurisdictions may be restricted by law. Persons into whose possession this announcement comes are required by the Company to inform themselves about, and to observe, any such restrictions.

This announcement is not an offer of securities for sale in the United States or to U.S. Persons. Securities may not be offered or sold in the United States absent registration under, or an exemption from the registration requirements of, the Securities Act. The Series B Bonds have not been, and will not be, registered under the Securities Act or the securities laws of any state or other jurisdiction of the United States, and may not be offered, sold or delivered, directly or indirectly, in the United States or to, or for the account or benefit of, U.S. Persons (except pursuant to an exemption from the registration requirements of the Securities Act).

Nothing in this announcement or the electronic submission thereof constitutes an offer to sell or the solicitation of an offer to buy the Series B Bonds in any jurisdiction.

19.11.2014 Die DGAP Distributionsservices umfassen gesetzliche Meldepflichten, Corporate News/Finanznachrichten und Pressemitteilungen. DGAP-Medienarchive unter www.dgap-medientreff.de und www.dgap.de

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