Noerr advises ODDO BHF on successful issue of €42 million convertible bond for Deutsche Industrie REIT-AG

Noerr has advised ODDO BHF AG on the successful issue of a convertible bond for Deutsche Industrie REIT-AG. The convertible bond has an overall nominal value of €41.6m and is divided into 416 individual bonds with a nominal value of €100,000 each, which have been successfully placed with institutional investors in a private placement.

The convertible bonds have a term of seven years and a coupon rate of 2% p.a. They were placed at 97% of their nominal value. The company intends to apply for the convertible bonds to be included in trading on the regulated unofficial market (Freiverkehr) of the Frankfurt Stock Exchange. The net proceeds raised from the issue of will be used for general corporate purposes including the refinancing of the company’s existing debt. A listed company, Deutsche Industrie REIT-AG invests sustainably in light industrial real estate in Germany.

ODDO BHF AG acted as sole global coordinator and bookrunner on this transaction. It was advised by Noerr team headed by the Frankfurt capital markets partners Laurenz Wieneke and Julian Schulze De la Cruz. At the beginning of the year, a team headed by Laurenz Wieneke and Dominik Kloka advised Baader Bank AG on a capital increase at Deutsche Industrie REIT-AG.

Advisors to ODDO BHF AG: Noerr LLP

Dr Laurenz Wieneke, Dr Julian Schulze De la Cruz, Dominique Stütz (all Capital Markets), Christian Hinzmann (Banking & Finance, all Frankfurt), Dr Jan Hoffmann Linhard (Corporate/M&A, Hamburg)