Ashurst advised DIC Asset AG (DIC) on the successful increase of a corporate bond. Ashurst has already advised DIC on four bond issues and several increases.

The corporate bond, which has a coupon of 3.25 per cent and was issued in July 2017, has been increased by a volume of €50 million in a private placement. The bond is listed on the official list of the Luxembourg Stock Exchange and admitted for trading on the regulated market of Bourse de Luxembourg. DIC intends to use the net issue proceeds for general corporate purposes.

The Ashurst team was led by partner Dr Tobias Krug, assisted by associates Alexandra Heitmann and Julia Schanz (all Securities and Derivatives, Frankfurt).

The private placement was led by Bankhaus Lampe KG as Lead Manager.

DIC Asset AG specialises in commercial real estate, particularly office property, in Germany. The company is currently managing real estate assets of around €4.4 billion, with around 180 properties. DIC's shares have been included in the SDAX segment of the Frankfurt Stock Exchange since June 2006.