Noerr advises TAG Immobilien AG on increasing corporate bond by 110 million Euro

The law firm Noerr advised TAG Immobilien AG on increasing a corporate bond issued in August 2013. In a private placing, the company has increased the bond by a further 110 million Euro. The original amount was 200 million Euro.

The note matures in August 2018 and pays a coupon of 5.125% p.a. The bond is traded in the open market (Entry Standard) of the Frankfurt stock exchange, with participation in the Prime Standard for corporate bonds. The bond increase was issued at 103% of par value, which is about the current price of the bond.

The proceeds from the bond increase will primarily be used to further optimise the capital and financing structure of TAG. The net proceeds will also be used for further growth and general business purposes. Close Brothers Seydler Bank AG acted as sole global coordinator and sole bookrunner for the transaction/placement.

As it did in the public offer and bond issue in August 2013, TAG again relied on the legal advice of Noerr and the Frankfurt capital markets lawyer Dr. Laurenz Wieneke. Noerr advises TAG regularly for example on the acquisition of the state-owned TLG Wohnen GmbH and DKB Immobilien AG.

Advisor TAG Immobilien AG: Noerr LLP

Dr. Laurenz Wieneke (leading), Dr. Christian Hartig (both capital markets law, Frankfurt)