KWG Kommunale Wohnen AG
KWG Kommunale Wohnen AG: Refinancing reduces cost of capital by EUR 0.5 mn p.a.
KWG Kommunale Wohnen AG / Key word(s): Real Estate 16.07.2012 / 08:00 --------------------------------------------------------------------- - Refinancing of loans in the amount of EUR 22 mn - Reduction of annual interest expenses by EUR 0.5 mn - Long-term duration of 10-year loans guarantees high planning reliability Hamburg - 16 July 2012 - KWG Kommunale Wohnen AG, long-term oriented holder of German residential real estate, does not have any significant refinancing requirements until the end of 2014 after the successful refinancing of a loan in the amount of EUR 22.3 mn. The long-term financing provided by a global insurance company and two German commercial banks replaces the loans expiring in 2012 at attractive conditions. The average nominal interest rate of the new financing amounts to 3.3 per cent and has been secured at more than 200 bps. below the loans it replaces. KWG thus lowers its annual interest expenses by approx. EUR 0.5 mn. In addition the company has increased its planning reliability through the lock-in of interest rates for a duration of 10 years. The new loans are classic German mortgage loans. The new financing provided by the lenders reflects their confidence in the company's cash generation and the value of the company's real estate portfolio. About KWG AG KWG Kommunale Wohnen AG is a long-term oriented owner and operator of German residential real estate units. The company acquires residential real estate portfolios at attractive conditions in promising micro-locations of metropolitan regions and German regional centres and sustainably increases their value through an active real estate asset management. By refurbishments to high energy efficiency standards incidental costs for tenants are being lowered. KWG AG covers the complete value chain from acquisitions to construction management and its own internal property management. As a result vacancies are being reduced and income from net cold rent is being increased. This leads to value enhancements of the properties, above average Returns on Equity and profitability. KWG's shares are listed in the Entry Standard of the Frankfurt Stock Exchange. Contact KWG Kommunale Wohnen AG Jan Hutterer Alstertor 9 20095 Hamburg Germany Tel.: +49- 40- 2263088-100 eMail: ir@kwg-ag.de www.kwg-ag.de End of Corporate News --------------------------------------------------------------------- 16.07.2012 Dissemination of a Corporate News, transmitted by DGAP - a company of EquityStory 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: KWG Kommunale Wohnen AG Alstertor 9 20095 Hamburg Germany Phone: 040 22 63 088 100 Fax: 040 22 63 088 200 E-mail: ir@kwg-ag.de Internet: www.kwg-ag.de ISIN: DE0005227342 WKN: 522734 Listed: Freiverkehr in Berlin, München, Stuttgart; Open Market (Entry Standard) in Frankfurt End of News DGAP News-Service --------------------------------------------------------------------- 177881 16.07.2012
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