The European Science Park Group (ESPG), an actual property firm specializing in science parks, has mandated Quirin Privatbank AG, amongst others, to advise the corporate on the refinancing of the bond maturing in September 2023.
On this regard, ESPG will maintain talks with its bondholders about attainable choices for refinancing. This will likely contain, most definitely, a voluntary trade supply, restricted bond buy-backs, or modifications to the phrases and situations of the bond in accordance with the German Act on Problems with Debt Securities.
“We now have achieved rather a lot previously twelve months: After the entry of the brand new main investor Alvarium Tiedeman (AlTi), we’ve got acquired Campteq Innovation Campus close to Darmstadt, a beautiful life science property, we’ve got signed new rental agreements for an space of round 8,450 m2, lowered our debt leverage ratio by repaying liabilities, and are planning additional repayments within the brief time period. As well as, we’ve got sharpened ESPG’s profile as a number one science park investor and gained new staff. As a result of present market state of affairs with rising rates of interest and the difficult capital markets, we’re searching for early contacts with our bond buyers as a way to refinance the bond with a beautiful supply in the very best method.”
Dr. Ralf Nöcker, Member of the Board of Administration of ESPG AG