Press releases

Arcona Property Fund N.V. redeems convertible bond

20 February 2018

Arcona Property Fund N.V. has redeemed its Tranche II 2015 convertible bond, due for repayment on 20 February 2018, in full. The bond was originally issued for a sum of EUR 1.42 million with a conversion share price of EUR 8.48, which was not reached during the term. The share price of the Arcona Property Fund was EUR 7.70 at close of business on Monday 19 February.

With the redemption of this convertible bond the Loan to Value ratio of the Arcona Property Fund falls to 52.4%.

Alongside its bank financing the Fund now has two outstanding convertible bond obligations. One bond, in the sum of EUR 1.07 million, falls due for repayment on 1 December 2019 with a conversion share price of EUR 8.24, and the second, in the sum of EUR 3.5 million, falls due on 31 October 2021 with a conversion share price of EUR 8.76. 

Arcona Property Fund N.V. redeems convertible bond
20 February 2018
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The dividend policy for Arcona Property Fund is to pay at least 35% of the annual direct result as a dividend. The target is, within a three to five year time frame from end 2016, to increase annual dividend payments to a level of 8% of the prevailing share price.

Arcona Property Fund counts the following substantial companies amongst its tenants: