The European Science Park Group (ESPG), a real estate company specializing in science parks, has mandated Quirin Privatbank AG, among others, to advise the company on the refinancing of the bond maturing in September 2023.
In this regard, ESPG will hold talks with its bondholders about possible options for refinancing. This may involve, most likely, a voluntary exchange offer, limited bond buy-backs, or changes to the terms and conditions of the bond in accordance with the German Act on Issues of Debt Securities.
“We have achieved a lot in the past twelve months: After the entry of the new major investor Alvarium Tiedeman (AlTi), we have acquired Campteq Innovation Campus near Darmstadt, an attractive life science property, we have signed new rental agreements for an area of around 8,450 m2, reduced our debt leverage ratio by repaying liabilities, and are planning further repayments in the short term. In addition, we have sharpened ESPG’s profile as a leading science park investor and gained new employees. Due to the current market situation with rising interest rates and the challenging capital markets, we are seeking early contacts with our bond investors in order to refinance the bond with an attractive offer in the best possible way.”
Dr. Ralf Nöcker, Member of the Board of Management of ESPG AG
