Ashurst advised DIC Asset AG (DIC) on the successful issue and placement of another corporate bond, thus having advised DIC on four bond issues and several increases. The corporate bond with a coupon of 3.5 per cent has a volume of €150m and is listed on the official list of the Luxembourg Stock Exchange (Bourse de Luxembourg) 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. It has a term of five years. DIC intends to use the net issue proceeds for general corporate purposes.

The Ashurst team comprised partner Dr Tobias Krug as well as associates Alexandra Heitmann and Julia Schanz (all debt capital markets, Frankfurt). The private placement was led by Bankhaus Lampe KG and Citigroup Global Markets Limited as Joint Lead Managers.

DIC, headquartered in Frankfurt am Main, is one of the leading listed real estate companies in Germany with an investment focus on commercial properties. The company is represented with six offices in all important German markets and is currently managing around 185 properties with a market value of approximately €5bn.