Vivacon AG

VIVACON AG secures triple digit million credit line from NIBC Bank N.V. for ground lease acquisitions

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real estate

Köln (euro adhoc) - VIVACON AG (ISIN 000604 8911) has secured a ground lease acquisition line in the triple digit million range by signing a credit facility with NIBC Bank N.V., Frankfurt. This credit line enables VIVACON to flexibly acquire commercial and residential leasehold properties arising from market opportunities. Together with the convertible bond issued in April of this year, the company is now in an excellent position to directly acquire the forecasted new ground lease interest cash flows of EUR 10 million in 2008. The total volume of self generated or directly acquired ground lease cash flows already amounts to around EUR 17.1 million per annum. Ground lease cash flows are 100% inflation adjusted and in general provide a 198-year cash flows, which is highly secured by a first ranking land registry charges and do not incur any noteworthy operating costs.

NIBC Bank N.V. is accompanying the strategic growth plan of VIVACON AG as Lead Arranger in regard to the direct acquisition of leasehold properties. It positions itself even in current market circumstances as a reliable partner, whose strengths lie in creating tailor-made financial solutions. "Germany is, beside our core market in the Benelux, a very important growth market and is moving on to become a second home-market for us." comments Jeroen van Hessen, Country Manager Germany of NIBC Bank.

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ots Originaltext: Vivacon AG
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Further inquiry note:
Sven Annutsch (Head of Investor Relations & Corporate Finance)
Tel: + 49 221 / 1305621 630

Vivacon AG
Bayenthalgürtel 4
50968 Köln
Fax: + 49 221 / 1305621 952

Franz Plesser (Managing Director NIBC Frankfurt)
Tel: + 49 69 / 5050655 14

Corporate Communications der NIBC Bank N.V.
Tel: + 31 70 3425 625

NIBC Bank N.V.
MAIN TOWER, Neue Mainzer Str. 52
60311 Frankfurt am Main

Branche: Real Estate
ISIN:      DE0006048911
WKN:        604891
Index:    SDAX, CDAX, Classic All Share, Prime All Share, DAX
              International 100
Börsen:  Börse Frankfurt / regulated dealing/prime standard
              Börse Berlin / free trade
              Börse Hamburg / free trade
              Börse Stuttgart / free trade
              Börse Düsseldorf / free trade
              Börse München / regulated dealing

Weitere Meldungen: Vivacon AG

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