Corestate Capital Holding S.A.: CORESTATE completes the HFS acquisition by early refinancing – HFS acquisition – funding costs reduced by 80%
DGAP-News: Corestate Capital Holding S.A.: CORESTATE completes the HFS acquisition by early refinancing – HFS acquisition – funding costs reduced by 80%
DGAP-News: Corestate Capital Holding S.A. / Key word(s): Miscellaneous
09.01.2018 / 08:49
The issuer is solely responsible for the content of this announcement.
CORESTATE completes the HFS acquisition by early refinancing –
HFS acquisition – funding costs reduced by 80%
CORESTATE Capital Holding S.A. (CORESTATE), a fully integrated investment manager and co-investor based in Luxembourg, today announces the full repayment of an HFS acquisition loan (Compartment Thalos IX from Thalos Investment Platform S.A.) with a total nominal amount of EUR 150m. The loan formed part of the acquisition financing for Helvetic Financial Services AG (HFS) in July 2017. After the successful integration, the acquisition is now also on the balance sheet essentially completed.
As announced CORESTATE mainly used the proceeds from the successful issuance of a convertible bond in November 2017 to refinance debt.
Lars Schnidrig, CFO of CORESTATE: “With the early repayment, we were able as envisaged to cut our financing costs significantly. We reduce financing cost of the HFS acquisition by 80%. This is a first important step to lower our interest costs. We will continue to optimize the cost of capital in the future.”
Dr. Kai Gregor Klinger
T: +49 69 3535630-107 / M: +49 152 2275400
T: +49 69 264867715 / M: +49 176 10430063
About CORESTATE Capital Holding S.A.
CORESTATE Capital Holding S.A. (CORESTATE) is an investment manager and co-investor with approximately EUR 22bn* in assets under management. As a fully integrated real estate platform, CORESTATE offers its clients combined expertise in the areas of investment and fund management as well as real estate management services. The company operates as a respected business partner of institutional clients and wealthy private investors internationally. CORESTATE is headquartered in Luxembourg and has 41 offices including in Frankfurt, London, Madrid, Singapore and Zurich. The company employs over 530 people and is listed in the regulated market (Prime Standard) of the Frankfurt Stock Exchange.
Further information is available at www.corestate-capital.com.
*at year end 2017
This press release may contain forward-looking statements based on current assumptions and forecasts made by our management. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of our company and the estimates given here. These factors include those discussed in our public reports, which are available on our website at [ir.corestate-capital.com]. The company assumes no liability whatsoever to update these forward-looking statements or to conform them to future events or developments. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof.