Swiss Estates redeems convertible bond
Residential real estate investor Swiss Estates has redeemed its 2014 convertible bond, which would have been due for repayment in 2029, in full on 31 July 2020.
According to Swiss Estates AG, the shares of the 2014 convertible bond, which provided for an annual interest rate of 1.5% and would actually have been due for repayment on 30 June 2029, have already been redeemed in the full amount of CHF 10 million as of 31 July 2020. Prior to this, 2.8 million units were converted into shares and participation certificates.
In connection with these measures, the company increased its share capital to 6.97 million and its participation certificate capital to 12.91 million.
Swiss Estates AG invests in residential properties in the urban areas of Switzerland, including agglomerations of the larger cities. The company acquires properties with 20 or more rental units, with a focus on assets with repositioning potential. (ah)
