DEMIRE Receives Backstop Commitments Totalling Around EUR 194 Million

On August 16, 2024, DEMIRE Deutsche Mittelstand Real Estate AG announced it has secured backstop commitments amounting to approximately EUR 194 million. This agreement pertains to the extension of the 2019/24 bond.

The backstop agreement requires participating bondholders to tender bonds at a price of 76.25% of the nominal amount if the repurchase sum of EUR 159.6 million for the tender offer is not exhausted. The nominal amount at the transaction's closing will be 90% of the current nominal amount, with 10% redeemed at par. Bondholders involved in the backstop will receive a 5% fee on their allocated amount. The transaction's closing is anticipated in October 2024.