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EQS-Ad-hoc: DEMIRE Deutsche Mittelstand Real Estate AG / Key word(s): Financing Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014 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
30-Jun-2024 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. |
| 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 |
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1936241 30-Jun-2024 CET/CEST
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