Heuking Kühn Lüer Wojtek, comprehensively legally advised CG Group on issuing a bearer bond and overall financing. Subscribers to the bond are exclusively institutional investors. The bond was issued in a private placement.
Net proceeds from the financing were used to acquire a property bought by CG Frankfurt Ostend GmbH & Co. KG at Danziger Platz in Frankfurt am Main, Ostend. In the coming years, the site will be developed with the focus on residential housing. equinet Bank AG acted as Sole Lead Manager and Sole Bookrunner in the transaction.
The bond provides for a term until June 2022 and annual interest payments. A trustee is appointed to provide the collateral, in particular first mortgages. The bond has an investment grade rating (BBB-).
CG Group is a real estate project developer with expertise in construction. The company, operating nationwide, has been designing, developing, and marketing residential and commercial real estate for over 20 years. Its business activities are focused on selected sites in Berlin, Leipzig, and Dresden, as well as in Frankfurt/Main, Cologne, Düsseldorf, and Hamburg.
Heuking Kühn Lüer Wojtek has advised CG Group with a team including Anne de Boer (Lead, Finance / Capital Markets), Christoph Gringel (Supervisory Law), Klaus Weinand-Härer (Tax), Sarah Dupont (Capital Markets) and Hanne Kara (Real Estate, Notary).
Involved fees earner: Anne de Boer – Heuking Kühn Lüer Wojtek; Sarah Dupont – Heuking Kühn Lüer Wojtek; Christoph Gringel – Heuking Kühn Lüer Wojtek; Klaus Weinand-Härer – Heuking Kühn Lüer Wojtek; Hanne Kara – Heuking Kühn Lüer Wojtek;
Law Firms: Heuking Kühn Lüer Wojtek;
Clients: CG Gruppe AG;