Peach Property completes capital increase
Peach Property Group AG has completed the placement of a convertible bond. The 180 million francs brought in are to be used to finance recently acquired residential properties in Germany. The bond will be converted into shares at a price of 55 francs each in December.
Peach Property Group AG has successfully completed the placement of unsecured, subordinated mandatory convertible bonds, the real estate company, which specializes in properties in Germany, informs in a message . Due to the strong interest, the nominal amount of the bond has been increased to 180 million francs, it says there. The funds raised are to be used to finance recently acquired residential properties in North Rhine-Westphalia and Bremen as well as for further company growth.
The bonds are to be converted into newly issued registered shares of the group by the due date on December 23 at the latest. The initial conversion price is set at CHF 55.00 and the nominal value of the share at CHF 1.00. The conversion will increase the company's share capital by around 3.2 million shares or 25.7 percent. The shares should be able to be traded on the SIX Swiss Exchange in a few days.