Funding extended to 2022, secured interest savings (German)

Group level and funding of the Altmarkt-Galerie Dresden ^

DGAP-News: Deutsche EuroShop AG / Keywords: Financing

Deutsche EuroShop: Financing extension to 2022, savings on interest

secured

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02/08/2022 / 08:00

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Deutsche EuroShop: Financing extension to 2022, savings on interest

secured

Hamburg, August 2, 2022 – Investor of the Deutsche EuroShop AG shopping center

has further funding ongoing until 2022

Closed. This includes a loan of EUR 52 million

Group level and financing of the Altmarkt-Galerie Dresden (107 million

EUR) and City-Point Kassel (EUR 55 million). Loan tranche of EUR 10 million

for the Allee-Center Hamm will be paid off at the end of September. by

signed contracts, which the company will use annually

Interest savings of approximately EUR 0.5 million.

Interest costs for 2022 will increase by approximately EUR 3.2 million compared to the previous year

millions of euros lower. This is essentially a consequence

Refinancing totaling around EUR 400 million in 2021

and 2022.

There are no outstanding loans in the Group this year

on. For the only complementary funding due in 2023

The company has already allocated EUR 209 million to Main-Taunus-Zentrum

agreed on term sheet with banking syndicate. Interest rate for it

the current loan rate is 2.99%. By September 2025, it will not be

more complementary funding.

In March this year, Deutsche EuroShop already had EUR 107.4 million

Long-term refinanced loan: one of the Ostsächsische Sparkasse

A consortium of six savings banks led by Dresden took over the financing

Altmarkt-Galerie Dresden provided until 2032. Olaf Borkers, Member of the Management Board

Deutsche EuroShop explains: “Sparkassen are local experts

get to know our centers and a large part of our local tenants

regional knowledge is helpful because we are competing

Real estate is often included in the search for attractive financing conditions

Facilities in cosmopolitan cities such as London, Paris and Amsterdam. “

“The recent rate hikes come as no surprise to us, even if

we did not expect this to such an extent, ”continued Olaf Borkers.

“For 2022, we expect the Group to pay interest costs of approximately EUR 37 million.

This compares with our 2006 interest expense of approximately EUR 39 million.

However, our sales in 2006 were only around EUR 93 million – for 2022

we expect sales of over EUR 200 million. Our financial situation

he is relaxed. “

Deutsche EuroShop – A company dealing with shopping centers

Deutsche EuroShop is the only German joint-stock company that

invests only in shopping centers in the best locations. This

The SDAX company is currently in 21 shopping centers in Germany,

Austria, Poland, the Czech Republic and Hungary. The portfolio includes

a. Main-Taunus-Zentrum near Frankfurt, Altmarkt-Galerie in Dresden

and Galeria Bałtycka in Gdańsk.

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02/08/2022 publication of corporate news / financial announcement,

provided by DGAP – EQS Group AG service.

The issuer / publisher is responsible for the content of the application.

DGAP’s distribution services include statutory reporting requirements,

Corporate / financial news and press releases.

Media archive at http://www.dgap.de

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German

Company: Deutsche EuroShop AG

Heegberg 36

22391 Hamburg

Germany

Telephone: +49 (0) 40 413 579-0

Fax: +49 (0) 40 413 579-29

E-mail: [email protected]

Internet: www.deutsche-euroshop.de

ISIN: DE0007480204

WKN: 748 020

Indices: SDAX

Exchanges: Regulated market in Frankfurt (Prime Standard);

Open market in Berlin, Dusseldorf, Hamburg, Hannover,

Munich, Stuttgart, Tradegate Exchange

EQS message ID: 1410735

End of news DGAP news service

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1410735 02/08/2022

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