Frankfurt; Global legal practice Norton Rose Fulbright has advised Bankhaus Lampe KG and Baader Bank Aktiengesellschaft as joint lead manager and joint bookrunners on the issuance of €75m corporate bonds by DIC Asset AG. DIC Asset plans to refinance existing bank loans at portfolio and real estate level with the proceeds from the emission and use parts thereof for general corporate purposes.
The bond has a term of five years and a coupon of 5.75 per cent. It was introduced on 9 July 2013 to trading in the open market, Entry Standard, of the Frankfurt Stock Exchange, with participation in the Prime Standard for corporate bonds of Deutsche Börse AG.
DIC Asset AG with registered office in Frankfurt am Main is a real estate company with exclusive investment focus on commercial property in Germany and a return-oriented investment policy. The assets under management amount to around €3.4bn with around 260 objects. DIC Asset AG has been listed in the SDAX since June 2006 and is represented the international EPRA index for the largest real estate companies in Europe.
Bankhaus Lampe KG and Baader Bank are independent, owner-operated German private banks.
This was the first time Norton Rose Fulbright acted for Bankhaus Lampe and Baader Bank in the context of the issuance of a SME bond in Germany. The team was led by Frank Peter Regelin (partner, corporate/securities, Frankfurt), supported by Rüdiger Hoffmann and Stefan Kutscheid.
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