Swiss Life plans 650 million issue for Swiss funds
A real estate portfolio of Swiss Life AG is to be purchased as part of the capital increase.
Swiss Life REF (CH) ESG Swiss Properties is planning a capital increase with subscription rights in June and July. The plan is to acquire a real estate portfolio consisting mainly of residential buildings. These are "well-developed agglomeration locations", according to the company.
Subject to Finma approval, the capital increase will be used to acquire a portfolio currently owned by Swiss Life Ltd. Some of the new funds are earmarked for the renovation and densification of existing residential buildings and the reduction of the debt ratio. "With further growth, investors will benefit from the scaling of the fund management company's management commission introduced in July 2023," Swiss Life continues.
The volume of the capital increase is expected to be up to CHF 650 million. The key data and further information will be announced at the end of May. (aw)
