May 20, 2020 / 6:23 AM / 15 days ago

BRIEF-CONSUS Real Estate Announces Further Material Sale Of Development Projects

May 20 (Reuters) - CONSUS REAL ESTATE AG:

* CONSUS ANNOUNCES A FURTHER MATERIAL SALE OF DEVELOPMENT PROJECTS, RESULTING IN ADDITIONAL SIGNIFICANT DELEVERAGING

* REDUCTION IN PROJECT FINANCE DEBT OF AROUND EUR 390 MILLION

* UPFRONT SALE OF A FURTHER 8 DEVELOPMENT PROJECTS WITH A GDV OF EUR 2.0 BILLION

* SALE RESULTS IN MATERIAL REDUCTION IN AVERAGE INTEREST RATE

* DEVELOPMENT PROJECTS HAVE BEEN SOLD AT A PREMIUM TO MARKET VALUES APPRAISED AS OF 31 DECEMBER 2019

* PARTIES HAVE AGREED NOT TO DISCLOSE SELLING PRICE Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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