UBM repays part of the Mezzanine Capital
Wien (pta004/29.12.2015/18:30) – The Executive Board of UBM Development AG (“UBM”) has decided to repay the partial amount of EUR 50 million of the mezzanine capital, which was made available by PORR AG (“PORR”). In connection with the contribution of the real estate business of PORR into PIAG Immobilien AG (“PIAG”) in 2014 and the subsequent merger of PIAG with UBM in February 2015, UBM also took over the Mezzanine Loan Agreement between PIAG and PORR. Due to the sale of the participations of the Hungarian M6 motorway concession companies and the thus increased net cash-in UBM is able to repay half of the mezzanine capital. The equity ratio of UBM is, as set strategically at the beginning of the year, for the fiscal year 2015 (already taking into account the partial repayment of the mezzanine capital as described above) expected to increase compared to 2014.
Anna Vay, CEFA
Head of Investor Relations & Corporate Communications
UBM Development AG
phone: +43 (0)664 626 1314