IMMOFINANZ uses bonds as part of its balanced approach to debt financing. The capital raised through our bonds is used for specific projects, to strengthen our portfolio or to enter new and promising markets.
IMMOFINANZ acquired an investment of roughly 26.5% (19,499,437 shares) in S IMMO during 2018 and increased its holding through the purchase of 17,305,012 shares at the end of December 2022. This transaction gave IMMOFINANZ a majority investment of 50% plus one share in S IMMO, and the company was therefore included through full consolidation in IMMOFINANZ’s consolidated financial statements since 31 December 2022.
The bonds issued by IMMOFINANZ Group had a total outstanding nominal value of EUR 858.4 million as of 30 September 2023 (31 December 2022: EUR 970.5 million). Of this total, EUR 237.8 million (31 December 2022: EUR 424.9 million) were attributable to IMMOFINANZ following the repayment of the corporate bond 2019–2023 during the first quarter of 2023. The outstanding nominal value of the S IMMO bonds increased to EUR 620.6 million with the successful issue of a EUR 75 million green bond during the third quarter of 2023.
IMMOFINANZ terminated its individual rating by S&P Global Ratings for efficiency reasons in March 2023 due to its group affiliation with CPI Property Group.