October 2, 2019 / 5:17 AM / 20 days ago

BRIEF-Peach Property Group: Conversion Price Of 3% Convertible Hybrid Bond Reduced

Oct 2 (Reuters) - Peach Property Group AG:

* CONVERSION PRICE OF 3% CONVERTIBLE HYBRID BOND REDUCED TO CHF 28.50 UNTIL 18 OCTOBER

* THIS IS INTENDED TO OPTIMISE FINANCING STRUCTURE AS PART OF GROWTH STRATEGY

* REDUCED PRICE FOR CONVERSION INTO REGISTERED SHARES OF PEACH PROPERTY GROUP AG REPRESENTS A PREMIUM OF 15.7 PERCENT FOR INVESTOR

* THIS TRANSACTION EXPECTED TO CLOSE BY END OF 2019 WILL INCREASE GROUP’S RESIDENTIAL PORTFOLIO BY 40% TO APPROXIMATELY 12,450 UNITS WITH A MARKET VALUE OF APPROXIMATELY CHF 1.1 BILLION

* TO OPTIMISE ITS CAPITAL STRUCTURE IT IS TEMPORARILY REDUCING CONVERSION PRICE OF 3% CONVERTIBLE HYBRID BOND WITH A NOMINAL VALUE OF CHF 59 MILLION LISTED ON SIX SWISS EXCHANGE BY CHF 1.00 FROM CHF 29.50 TO CHF 28.50 BETWEEN 2 OCT AND 18 OCT 2019 Source text for Eikon: Further company coverage: (Gdynia Newsroom)

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