on Deutsche Konsum REIT-AG (isin : DE000A14KRD3)
VBL Becomes Major Shareholder in Deutsche Konsum REIT-AG
Deutsche Konsum REIT-AG announced the Versorgungsanstalt des Bundes und der Länder (VBL) as a major shareholder following the conversion of a convertible bond. The move marks a significant development in the company's financial landscape.
Initially issued in 2015, the bonds amounted to EUR 37 million and were set to mature in January 2025. VBL's partial conversion resulted in the issuance of 5,572,704 new shares, positively impacting Deutsche Konsum REIT-AG's liquidity and debt.
The company anticipates a beneficial effect on its Loan-to-Value (LTV) ratio for the 2024/2025 fiscal year due to this conversion. The full-year results for the fiscal year will be disclosed on 19 December 2024.
R. H.
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