Advising real estate company Estavis on issuing a bond

Heuking Kühn Lüer Wojtek legally advised listed real estate company Estavis on placing the Estavis II bond with a total volume of up to EUR 15 million. The issue's maturity was set at five years, with bullet maturity set at November 14, 2018. The bond's issue price is 100%, its fixed annual interest rate amounts to 9.25%. The partial debentures are expected to be integrated into the Open Market of Deutsche Börse AG (regulated unofficial market at Frankfurt stock exchange) as of November 14, 2013.

The Estavis executive board intends to use the proceeds from the new bond primarily to repay the Estavis I bond, which will mature in March 2014. In addition, Estavis intends to acquire about 1,500 apartments in Saxony in order to expand its portfolio. It is an objective to increase the real estate holdings in the portfolio business line and to expand the proprietary stock of properties in the housing privatization business line of apartments retailing for the company's own account.

Estavis AG is a listed real estate company focusing on residential real estate. The company selectively acquires residential portfolios for long-term management. Accentro, a subsidiary of Estavis and the group's other mainstay, is the market leader in housing privatizing services in Germany. Estavis AG is headquartered in Berlin and is listed on Frankfurt Stock Exchange's Prime Standard (German Securities Code No.: A0KFKB).

ESTAVIS has been advised by Heuking Kühn Lüer Wojtek regularly since 2007, e.g. at a cash and in-kind capital increase at the beginning of 2013.

Responsible for the project
Heuking Kühn Lüer Wojtek:
Dr. Thorsten Kuthe,
Madeleine Zipperle (both Capital Markets), both Cologne