DGAP-News: GAGFAH GROUP Refinances EUR 176 Million GBH Loan

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News Desk 2018

Apr 23, 2014 at 3:45 AM

DGAP-News: GAGFAH GROUP Refinances EUR 176 Million GBH Loan with HSH Nordbank

DGAP-News: GAGFAH S.A. / Key word(s): Miscellaneous GAGFAH GROUP Refinances EUR 176 Million GBH Loan with HSH Nordbank 23.04.2014 / 09:37 --------------------------------------------------------------------- Press Release: April 23, 2014 GAGFAH S.A. 2-4, rue Beck L-1222 Luxembourg ISIN: LU0269583422 Frankfurt Stock Exchange (Ticker Symbol: GFJ) Regulated Market (Prime Standard) GAGFAH GROUP Refinances EUR 176 Million GBH Loan with HSH Nordbank - Two loan tranches of EUR 134 million and EUR 42 million reflect the portfolio strategy for the underlying assets - Weighted average maturity of the new loan is six years - Weighted average interest rate is 3.05%, about 130 basis points lower than for the previous loan Luxembourg, April 23, 2014 - GAGFAH GROUP successfully refinanced the GBH portfolio with more than 4,400 residential units mostly located in Southern Germany in the city of Heidenheim with HSH Nordbank. The previous loan was fully repaid on its final maturity date. The new loan from HSH Nordbank comprises two tranches, reflecting the strategy for the underlying portfolio. The first tranche of EUR 134 million for the core portfolio has a seven-year maturity while the second tranche with EUR 42 million is mostly secured by a sales portfolio and has a three-year maturity. With a weighted average of around six years, the maturity rate has been significantly extended compared to the previous loan, and on the basis of the current hedging strategy and the current Euribor rate the weighted average interest rate of the new loan is 3.05%, about 130 basis points lower than for the previous loan. In addition, GAGFAH was able to save one-off refinancing fees of ca. 1% that would have been incurred if GAGFAH had executed the two-year extension option with the previous lender. Gerald Klinck, CFO of GAGFAH GROUP commented, "Securing stable and long-term financing for the GBH portfolio is another important step for us in our continuous efforts to improve our capital structure and maturity profile. We are very happy to have reached another financing agreement with HSH Nordbank. We have already worked with them in the past, and we appreciate their reliability and professionalism." Contact GAGFAH S.A. Investor Relations Rene Hoffmann 2-4, rue Beck L-1222 Luxembourg Tel.: +352 266 366 21 rhoffmann@gagfah.com www.gagfah.com R.C.S. Luxembourg B 109.526 Media Dirk T. Schmitt +49 175 721 4836 dschmitt@gagfah.de About GAGFAH S.A. GAGFAH S.A. is a joint stock corporation organized under the laws of the Grand Duchy of Luxembourg qualifying as a securitization company under the Luxembourg Securitization Law of March 22, 2004. The core business of GAGFAH S.A.'s operating subsidiaries is the ownership and management of a residential property portfolio located in Germany. GAGFAH is a leading owner and operator of residential real estate in Germany. Our portfolio includes about 144,000 own residential units that are mostly located in the large German cities and their respective commuter belts. We believe that our size, our significant presence in the key residential markets and our scalable operating platform make us one of the leading providers of affordable housing for low- to medium- income households in Germany. Our operating subsidiaries are full-scale service providers for a broad range of property and facility management services. Our objective is to generate shareholder value through sustainable and growing cash flows, increasing net asset value and sustainable dividends by efficiently managing our portfolio, carrying out value-enhancing property investments, pursuing accretive growth opportunities, and realizing value through selected asset sales. End of Corporate News --------------------------------------------------------------------- 23.04.2014 Dissemination of a Corporate News, transmitted by DGAP - a company of EQS Group AG. The issuer is solely responsible for the content of this announcement. DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------- Language: English Company: GAGFAH S.A. 2-4, rue Beck 1222 Luxemburg Grand Duchy of Luxembourg Phone: + 352 266 366 1 Fax: + 352 266 366 01 E-mail: info@gagfah.com Internet: www.gagfah.com ISIN: LU0269583422, LU0269583422 WKN: A0LBDT Indices: MDAX Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, DÃ¼sseldorf, Hamburg, MÃ¼nchen, Stuttgart End of News DGAP News-Service --------------------------------------------------------------------- 264150 23.04.2014

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