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Aggregate Financial Services advised on the issuance of a successfully placed senior secured corporate bond (Senior Secured Notes) of CONSUS Real Estate AG with a total nominal amount of EUR 400m.

Berlin, 3 May 2019 – CONSUS Real Estate AG (“Consus”, and together with its consolidated subsidiaries, “Consus Group”) successfully placed a senior secured corporate bond (Senior Secured Notes) with a total nominal amount of EUR 400m with institutional investors today. The notes have been issued at 98.5% with a duration of five years (until 2024), and a non-call period of two years and a coupon rate of 9.625% p.a. over the term.

The notes are governed by New York law (144A/Reg S) and are expected to be listed on the Official List of The International Stock Exchange. The net proceeds from the issue will be primarily used for the refinancing of outstanding liabilities of the Consus Group and cash payments in connection with the acquisition of shares in CG Group AG.

The rating agencies Fitch and Standard & Poor’s rated the notes B and B-, respectively. The two rating agencies’ issuer ratings for the Consus Group are B and B, respectively, with a stable outlook in each case. The detailed ratings are available on the Standard & Poor’s website at and on the Fitch’s website at

Andreas Steyer, CEO of Consus, comments: “The successful placement of our bond underlines the confidence investors have both in the Consus Group and in the potential of our business. Consus is the leading pure-play developer of real estate properties in the top 9 cities in Germany and has a business model focused on forward sales of residential developments to institutional investors that is geared towards reducing development risks.”

Benjamin Lee, CFO of Consus, adds: “We have had strong investor feedback which delivered positive support to our successful bond issue. In combination with Consus’ recent strong 2018 financials, this provides a very good backdrop to Consus 2019 performance.”


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