February 21, 2017 / 5:55 PM / 3 years ago

BRIEF-Deutsche Wohnen to launch 500 mln eur capital increase

Feb 21 (Reuters) - Deutsche Wohnen AG

* Deutsche Wohnen AG to (i) issue new convertible bonds, (ii) solicit offers from investors to sell to deutsche wohnen ag outstanding convertible bonds and (iii) to launch cash capital increase

* Launches issue of eur 800 million convertible bonds maturing in July 2024, to sell to Deutsche Wohnen outstanding convertible bonds due November 2020

* Launches a capital increase against cash contribution with intention to generate gross proceeds in amount of approximately EUR 500 million

* Shares from capital increase and shares underlying new convertible bonds amount together to almost 10 percent of registered share capital of company.

* Convertible bonds are convertible into newly issued or existing deutsche wohnen bearer shares with no par value or can be repaid in cash

* New convertible bonds will be issued at 100 percent of their nominal value with a denomination of eur 100,000 per convertible bond and - unless previously converted, repurchased or redeemed - will be redeemed at par at maturity

* New convertible bonds will be offered with an annual interest rate between 0.20 percent and 0.45 percent and a conversion premium between 48 percent and 58 percent above placement price per deutsche wohnen share in capital increase Source text for Eikon: Further company coverage:

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