TLG secures one billion euros over bonds

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TLG

At the beginning of September, TLG announced that it would invest 9.99 percent in Aroundtown, taking the first step towards a merger.


(Photo: AP)

Frankfurt The Berlin commercial real estate specialist has to finance the entry into the larger rival around Town secured with bonds one billion euros. TLG has each raised EUR 500 million in senior, unsecured bonds with a maturity of three years and subordinate indefinite-term bonds.

So that can TLG real estate also replace a short-term credit line from Aroundtown major shareholder Avisco. The placement was almost three times oversubscribed, said TLG boss Barak Bar-Hen. At the beginning of September, TLG announced that it would invest 9.99 percent in Aroundtown, taking the first step towards a merger.

Finance briefing

TLG (t) Real Estate Market (t) Financing (t) Gastronomy (m) Mergers & Acquisitions M & A (t) TLG Real Estate (t) Commercial Real Estate

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