DEMIRE Deutsche Mittelstand Real Estate AG, DE000A0XFSF0

DEMIRE Deutsche Mittelstand Real Estate AG / DE000A0XFSF0

30.06.2024 - 22:51:27

Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014

EQS-Ad-hoc: DEMIRE Deutsche Mittelstand Real Estate AG / Key word(s): Financing


30-Jun-2024 / 22:51 CET/CEST
, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.


DEMIRE did not yet agree on an extension regarding a loan to finance a real estate portfolio with DZ HYP AG; risk of insolvency for the four property companies concerned Langen, 30. June 2024. Subsidiaries of DEMIRE Deutsche Mittelstand Real Estate AG (ISIN: DE000A0XFSF0) ("Company") had taken out a non-recourse loan ("Loan") from DZ HYP AG in the amount of around EUR 82m to finance a real estate portfolio ("Limes-Portfolio"). The Loan is due today, on June 30, 2024. The Company and the property companies concerned had been in negotiations with DZ HYP AG about the extension of the Loan. To date the negotiations with DZ HYP have not been successful and the extension of the maturity of the Loan has not been granted. Subsequent negotiation attempts, in which DEMIRE’s main shareholder offered additional support for the four property companies concerned, have also been unsuccessful. There is therefore a risk of insolvency for the four property companies. Nevertheless, on the basis of recent discussions with DZ HYP AG, the Company believes that it should be possible to agree on the orderly repayment of the Loan outside of an insolvency of the property companies in the time available until the insolvency application has to be filed. The Company's unsecured bond (ISIN: DE000A2YPAK1) with a maturity date of October 15, 2024 and a current outstanding amount of EUR 499 million, which is currently the subject of restructuring, cannot be accelerated due to this circumstance.
Contact:
Julius Stinauer MRICS
Head of Investor Relations & Corporate Finance
DEMIRE Deutsche Mittelstand Real Estate AG
Telefon: +49 6103 372 4944
Email: stinauer@demire.ag


End of Inside Information

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Language: English
Company: DEMIRE Deutsche Mittelstand Real Estate AG
Robert-Bosch-Straße 11
63225 Langen (Hessen)
Germany
Phone: +49 6103 37249-0
Fax: +49 6103 37249-11
E-mail: ir@demire.ag
Internet: www.demire.ag
ISIN: DE000A0XFSF0
WKN: A0XFSF
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Stuttgart, Tradegate Exchange
EQS News ID: 1936241

 
End of Announcement EQS News Service

1936241  30-Jun-2024 CET/CEST
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