ESPG AG reviews options for refinancing the corporate bond 2018/2023 and mandates Quirin Privatbank AG

Cologne, 24 April 2023: The European Science Park Group (ESPG), a real estate company specialising in science parks, has mandated Quirin Privatbank AG, among others, to advise the company on the refinancing of the bond maturing in September 2023. In this regard, ESPG will hold talks with its bondholders about possible options for refinancing. This may involve most likely a voluntary exchange offer, limited bond buy-backs, or changes to the terms and conditions of the bond in accordance with the German Act on Issues of Debt Securities.

Dr. Ralf Nöcker, Member of the Board of Management of ESPG AG, comments: "We have achieved a lot in the past twelve months: After the entry of the new major investor Alvarium Tiedeman (AlTi), we have acquired Campteq Innovation Campus near Darmstadt, an attractive life science property, we have signed new rental agreements for an area of around 8,450 m², reduced our debt leverage ratio by repaying liabilities, and are planning further repayments in the short term. In addition, we have sharpened ESPG's profile as a leading science park investor and gained new employees. Due to the current market situation with rising interest rates and the challenging capital markets, we are seeking early contacts with our bond investors in order to refinance the bond with an attractive offer in the best possible way.”


About ESPG
The European Science Park Group (ESPG) is a real estate company specialising in science parks. The company focuses on the development of science parks, predominantly characterised by tenants from future-oriented industries such as life sciences, green technologies or digital transformation, which benefit from the proximity to each other and the direct vicinity to universities, hospitals or research locations. ESPG's portfolio already includes 16 science parks across Europe with a total area of 126,000 square meters and a balance sheet value of 250 million euros. The sites are generally located outside metropolises, in areas that are considered science clusters or have a high concentration of innovative companies.


Press Contact:
Mario Groß
T +49 40 60 91 86 83
M +49 174 9181983
espg@kirchhoff.de