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Financing

EXCLUDING SUBSCRIPTION RIGHTS FOR THE ISSUE OF CONVERTIBLE BONDS

Report of the Management Board of IMMOFINANZ AG on excluding subscription rights for the issue of convertible bonds, as authorised by the resolution adopted at the 22nd Annual General Meeting of IMMOFINANZ AG of 1 December 2015. Please find the details in the PDFs below:

Download: Report on excluding subscription rights for the issue of convertible bonds, 23 December 2016 (476,43 kB, PDF)
Download: Report on excluding subscription rights for the issue of convertible bonds, 20 April 2016 (136,45 kB, PDF)

FINANCIAL LIABILITIES

Financial liabilities, excluding the discontinued operation Russia, totalled EUR 2.8 billion as of 31 December 2016 (30 April 2016: EUR 2.8 billion). Cash and cash equivalents amounted to EUR 189.3 million. Net debt, i.e. debt after the deduction of cash and cash equivalents held by the Group, equalled EUR 2.6 billion (30 April 2016: EUR 2.4 billion). Financial liabilities attributable to the discontinued operation Russia amounted to EUR 721.7 million as of 31 December 2016 (30 April 2016: EUR 669.4 million).

IMMOFINANZ has a robust balance sheet structure with an equity ratio of 37.8% (30 April 2016: 39.8%) and a net loan-to-value ratio (net LTV) of 49.0%, respectively 52.2% incl. Russia (30 April 2016 incl. Russia: 49.2%).

The net LTV shows the carrying amount of financing less cash and cash equivalents in relation to the total carrying amount of the properties, the market value of the investment in BUWOG shares and the EPRA net asset value (EPRA NAV) of the investment in CA Immobilien Anlagen AG (CA Immo).

COMPOSITION OF FINANCIAL LIABILITIES

The financial liabilities held by IMMOFINANZ consist of amounts due to financial institutions as well as liabilities from convertible and corporate bonds. The composition of these liabilities as of 31 December 2016 is as follows:

Download: Financial liabilities of 31 December 2016 (154,20 kB, XLSX)

The remaining balance of the financial liabilities held by IMMOFINANZ (continuing operations) totalled EUR 2,801.4 million as of 31 December 2016. As of that date, all of the financing was denominated in Euros.
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