The Grounds Real Estate Development AG’s €12 Million Convertible Bond Placement

Heuking Kühn Lüer Wojtek advised The Grounds Real Estate Development AG on the deal.

The Grounds Real Estate Development AG successfully placed its first convertible bond amounting to EUR 12 million with significant oversubscription. The transaction was accompanied by the Quirin Privatbank AG.

Including the private placement among institutional investors, demand exceeded the issue to such an extent that the company’s major shareholders withdrew from a significant part of their original subscription notifications of around EUR 5 million to expand the company’s investor base.

The Grounds Group realizes residential projects in German metropolitan regions. In addition, The Grounds Group holds a steadily growing residential portfolio as fixed assets. Proceeds from the issue will enable the company to make further acquisitions. Numerous projects are currently being examined with a view to achieving continued strong growth in the current fiscal year.

The Heuking team was led by Dr. Thorsten Kuthe (Picture) and further included Anna Richter and Meike Dresler-Lenz.

Involved fees earner: Meike Dresler-Lenz – Heuking Kühn Lüer Wojtek; Thorsten Kuthe – Heuking Kühn Lüer Wojtek; Anna Richter – Heuking Kühn Lüer Wojtek;

Law Firms: Heuking Kühn Lüer Wojtek;

Clients: The Grounds Real Estate Development AG;

Federica Tiefenthaler

Author: Federica Tiefenthaler