Vonovia places first promissory note on firstwire online marketplace
Bochum, Germany, September 4, 2019 – Vonovia SE (Vonovia) has initiated the digitalization of its financing strategy by issuing a promissory note via a digital platform for the first time. In the scope of a private placement, an institutional investor provided € 50 million with a maturity of seven years. The DAX company selected German online marketplace firstwire for the transaction.
“Digitalization is a megatrend and is therefore gaining importance in the financial sector as well,” says Helene von Roeder, Chief Financial Officer of Vonovia. “It was important to us that we place our first promissory note in the market independently and straightforwardly. With this transaction, we have expanded not only our range of financing instruments but also our investor base – with very attractive terms.”
For years, Vonovia has successfully financed and refinanced itself via the capital market. Most recently, the company placed a bond with a volume of € 500 million in January 2019. Vonovia’s outstanding debt volume was € 20.5 billion as of June 30, 2019. “We can well imagine issuing additional promissory notes of similar or even greater volumes,” von Roeder continues, with an eye on diversifying the funding.
Michael Dreiner, CEO and founder of firstwire, notes: “We are delighted with this issuer and see this as a confirmation of our digital approach. In addition to larger mid-size companies, we can provide even experienced issuers in the DAX league access to institutional investors, in practically all maturities and risk categories.”
2019/2020 Financial Calendar
November 5, 2019: Interim Statement for the Third Quarter of 2019
March 5, 2020: 2019 Annual Press Conference
May 5, 2020: Interim Statement for the First Quarter of 2020