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conwert Immobilien Invest SE
Ansprechpartner: Clemens Billek
Tel.: +43 1 52145-700
E-Mail: cwi@conwert.at

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pta20151216006
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conwert Immobilien Invest SE: Average cost of debt successfully cut to below 2.6%


Vienna (pta006/16.12.2015/08:06) - conwert Immobilien Invest SE (conwert), listed on the Austrian ATX, announces a further major step in the realignment of its financing by successfully terminating and restructuring existing financial derivatives. The average cost of debt has thereby fallen from 3.6% to less than 2.6%. At the end of the third quarter 2015 the financial liabilities of conwert stood at EUR1,505.8 mn.

In the context of the realignment, conwert terminated existing financial derivatives with a nominal value of EUR329.6 mn and restructured derivatives with a nominal value of EUR170.9 mn. The strike price of the restructured financial derivatives has now fallen to 1.0%.

The total costs of terminating and restructuring the existing financial derivatives, which do not have an impact on profit or loss, totalled EUR95.3 mn, which was within expectations. For the purpose of the adjustments of the derivatives, conwert used bridge financing of EUR70.0 mn, which should be redeemed through the sales revenues expected in the coming months. The difference to the total costs was financed with internal funds.

Thomas Doll, conwert CFO: "By terminating and restructuring the financial derivatives, conwert has achieved another major step in 2015 in its comprehensive programme for optimising financing."

Wolfgang Beck, conwert CEO: "Restructuring the financial derivatives has allowed conwert to reduce its average cost of debt to the same level as that of comparable listed companies. We will continue on this path and implement further measures to improve our financing and profitability."

...........................................................

This release contains forward-looking estimates and statements that were made on the basis of the information available at this time. Forward-looking statements reflect the point of view at the time they are made. We would like to point out that the actual circumstances and, consequently, the actual results realised at a later date may differ from the forecasts presented here for a variety of reasons.

(end)
emitter: conwert Immobilien Invest SE
Alserbachstraße 32
1090 Vienna
Austria
contact person: Clemens Billek
phone: +43 1 52145-700
e-mail: cwi@conwert.at
website: www.conwert.at
stock exchanges: official trade in Vienna
ISIN(s): AT0000697750 (share)
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