With a combined issue amount of EUR 3 billion, this is the largest Eurobond ever in the real estate market.
The issue was made up of three tranches from Vonovia’s EMTN programme as follows:

• A variable rate bond for an amount of EUR 750 million, maturing in 2017 (ISIN DE000A18V120)
• A fixed rate bond for an amount of EUR 1.25 billion, with an annual coupon of 1.625% and maturing in 2020 (ISIN DE000A18V138)
• A fixed rate bond for an amount of EUR 1 billion, with an annual coupon of 2.250% and maturing in 2023 (ISIN DE000A18V146).

The proceeds of the issue will be used for general corporate purposes and to reduce the bridge loan obtained to finance the cash component of the takeover offer for Deutsche Wohnen.

This record issue joins the company’s eight debt securities already listed in Luxembourg and comes almost one year after Vonovia SE, formerly known as Deutsche Annington Immobilien SE, listed its shares (DE000A1ML7J1) on LuxSE.