Immofinanz Immobilien Anlagen AG

IMMOFINANZ Convertible Bond Considerably Oversubscribed

- Placement closed early after four hours - Strong interest from a wide range of international investors - Yields total 2.75 percent, the conversion premium 32 percent

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Vienna (euro adhoc) - Today's placement of an IMMOFINANZ AG convertible bond closed early after just four hours. The EUR 750m placement, which was offered solely to institutional investors, was oversubscribed nearly four times at this point.

    The convertible's coupon yield with a seven-year maturity was set at 2.75 percent and thus occupies the lowest end of the range of 2.75 to 3.25 percent. The conversion premium is 32 percent. Bondholders can acquire IMMOFINANZ shares at the conversion price through February 16, 2014.

    IMMOFINANZ is the first real estate company in 2007 to place a convertible bond. The strong interest in the placement from a wide range of institutional investors was remarkable. Subscription orders came from virtually every country in which the convertible bond was offered for purchase (not in the USA, Canada, Australia, Italy and Japan).

    "The placement's resounding success is further proof of the IMMOFINANZ Group's standing and on and significance for the European financial markets," says Chairman Karl Petrikovics. "Considerable funds are now available to finance our further growth and we will be able to continue and even enhance our current expansion programme with important investments in CEE on the one hand and in Germany on the other."

    Petrikovics also emphasises the important cost advantages deriving from the successful placement of the convertible bond. "Our refinancing costs will be considerably reduced, which in turn will have an extremely positive impact on the company’s profitability and therefore the outlook for the share price."

    Last year IMMOFINANZ was the most successful real estate share on the Vienna Stock Exchange with a 33.27 percent increase in share price. In the first two weeks of 2007 the share price rose another 8.7 percent.

    J.P. Morgan Securities Ltd. acted as sole bookrunner of the issue. Co-lead managers were Constantia Privatbank AG, Credit Suisse and Merrill Lynch International.

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ots Originaltext: Immofinanz Immobilien Anlagen AG
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Further inquiry note:
Mag. Margit Hermentin
Investor Relations
A-1010 Wien  Bankgasse 2
Tel.: + 43/1/532 06 39-719
Mobil: +43/699/1 536 16 56
Fax: +43/1/532 06 39-790

Branche: Real Estate
ISIN:      AT0000809058
WKN:        911064
Index:    ATX Prime
Börsen:  Wiener Börse AG / official market

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