EQS-News: TAG Immobilien AG repays bridge financing from the acquisition of ROBYG S.A. in full

PRESS RELEASE

TAG Immobilien AG repays bridge financing from the acquisition of ROBYG S.A. in full

Hamburg, 10 October 2023

The bridge financing taken out to finance the acquisition of ROBYG S.A. was repaid by TAG Immobilien AG ahead of maturity in October 2023. The financing was granted by four investment banks in March 2022 and was utilised in the amount of EUR 650m at its peak. The contractual term would have ended in January 2024 at the latest.

At the end of the second quarter of 2023, an amount of EUR 175m was still outstanding. After the balance sheet date, further repayments followed. In October 2023, the final partial amount of EUR 75m was repaid after the closing of disposals of apartments in Germany with net cash proceeds of c. EUR 60m, which have already been communicated with the half-year figures, has taken place.

Martin Thiel, CFO of TAG Immobilien AG: With the full repayment of the bridge financing we have completed the most important step in our refinancing activities. In addition to the rights issue last year, which led to gross proceeds of EUR 202m, we also successfully carried out the disposal programme announced at the same time for apartments in Germany with net cash proceeds totalling EUR 250m. Both measures were an essential component for the repayment of the bridge financing. Furthermore, our German and our Polish property portfolios continually generate significant liquidity surpluses. This means we remain financially well positioned and independent on refinancing from the capital market.

Contact

TAG Immobilien AG

Dominique Mann

Head of Investor & Public Relations

Phone +49 (0) 40 380 32 305

Fax +49 (0) 40 380 32 390

ir@tag-ag.com