on TAG Tegernsee Immobilien U. Beteiligungs AG (isin : DE0008303504)
TAG Immobilien AG Issues EUR 332 Million Convertible Bonds
On March 4, 2025, TAG Immobilien AG announced the successful placement of unsecured and unsubordinated convertible bonds totaling EUR 332 million, maturing in March 2031. The bonds, with an ISIN DE000A4DFC57, are set to convert into shares or be repaid in cash, representing approximately 10% of the company's share capital. The bonds carry a coupon of 0.625% per annum, payable semi-annually.
The initial conversion price is EUR 18.94, reflecting a 40% premium above the reference share price of EUR 13.5285. Upon maturity, the accreted redemption amount will be 106.28% of the principal amount. Settlement is expected around March 11, 2025, with the company applying for inclusion on the Open Market segment of the Frankfurt Stock Exchange shortly after.
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