Instone Real Estate places Schuldschein loan

Successful debut transaction in cooperation with IKB Deutsche Industriebank AG // Schuldschein in the high double-digit million euro range with considerable oversubscription // Fixed-interest and variable tranches with maturities of three and five years // High demand from foreign banks and from project-financing savings banks, Volksbank institutions, and commercial banks

Essen, July 25, 2017: For the first time, Instone Real Estate Development GmbH & Co. KG (IRE), formerly formart GmbH & Co. KG, placed a Schuldschein loan with a volume in the high double-digit million euro range. The successful debut transaction was concluded in cooperation with IKB Deutsche Industriebank AG as sole lead arranger and book runner and was significantly oversubscribed. Sparkasse Hannover accompanied the transaction as selling agent. The corporate unsecured Schuldschein loan has fixed and variable tranches with maturities of three and five years. In addition to the high demand from foreign banks, the Schuldschein was mainly subscribed by investors from the project-financed savings banks, Volksbank institutions, and commercial banks.

Oliver Schmitt, CFO of Instone Real Estate Group, commented: "The successful placement of the Schuldschein shows the confidence in our business model and underscores IRE Group's very good credit standing. The strong commitment of the subscribers to the field of residential real estate confirms our expansion strategy. Therefore, follow-up transactions are already planned." 

The transaction serves to refinance existing liabilities and to finance growth. "This will enable us to significantly reduce our previous interest expenses, to extend financing times, and to diversify our funding sources," added Instone CFO Schmitt.