Ashurst advised DIC Asset AG (DIC) on the placement of its successful corporate bond issue.

The five-year bond has a volume of €130 million, and is listed on the official list of the Luxembourg Stock Exchange and admitted for trading on the regulated market of Bourse de Luxembourg. The bond was placed with institutional investors in Germany via a private placement.

DIC intends to use the net issue proceeds of the bond to repay its outstanding debt, specifically its outstanding bond over €100 million, issued in 2014 and due in 2018, as well as for general corporate purposes.

The Ashurst team was led by partner Dr Tobias Krug, assisted by associate Alexandra Heitmann (both debt capital markets, Frankfurt).

Established in 2002, DIC, with registered offices in Frankfurt am Main, is a real estate company with investment focus on commercial real estate in Germany, pursuing a return-oriented investment policy. The company has around 200 real estate assets under management with an aggregate market value of €3.6 billion. DIC's shares have been included in the SDAX segment of the Frankfurt Stock Exchange since June 2006.