- €91 million will be repaid from liquidity
- No bond repayments due until November 2025
- Share of green financing already over 70%
Vienna, 15 November 2023 – UBM Development AG (UBM) will repay the remaining €91.05m from the 3.125% UBM Bond 2018-2023 (bond) punctually on 16 November 2023 after five years. The issue of this bond with a nominal value of €120m in 2018 was aimed at Austrian investors as well as a broad international investor base. A total of €28.94m from the 3.125% UBM Bond 2018-2023 was already exchanged for the UBM Green Bond 2023-2027 in June 2023, and the outstanding €91.05m from this bond will now be repaid. The punctual repayment of this financing instrument will reduce UBM’s future annual interest costs by €2.85m. “In the past years, we have proven that we are a reliable bond issuer,” says Patric Thate, CFO of UBM Development AG. “After repaying the hybrid bond 2018 prematurely in March 2023, we are now repaying the 3.125% UBM Bond 2018-2023 on time as well.”
Solid financial position
As of the last reporting date (30 June 2023), UBM had €214m of cash and cash equivalents at its disposal and an equity ratio of 30%. The successful placement of the first Green Bond in July 2023 additionally brought €50m of fresh capital. Until November 2025, no further bond repayments will be due at UBM, which gives the company a considerable competitive advantage over other market participants.
ESG industry leader for green financing
UBM’s future issues will continue to concentrate on green financing. Following publication of the UBM Green Finance Framework, the first UBM Green Bond could be successfully placed in July 2023. In 2021, two UBM bonds with a sustainability focus were already issued and successfully placed for a total of €250m. Plans at UBM envisage a further increase in the current 71% share of green bond financing.
UBM Development is one of Europe’s leading developers of timber construction projects. The strategic focus is on green building and smart offices in major cities such as Vienna, Munich, Frankfurt and Prague. The EcoVadis Platinum rating and the ESG Prime status by ISS confirm UBM’s consistent focus on sustainability. With 150 years of experience, UBM offers all development services from a single source, from planning to marketing. The company’s shares are listed on the Prime Market of the Vienna Stock Exchange, the segment with the highest transparency requirements.
For additional information please contact:
Head of Investor Relations & ESG
UBM Development AG
Mob.: + 43 664 80 1873 200