March 20, 2018 / 4:31 PM / a month ago

BRIEF-UBM Development To Repay Outstanding Mezzanine Capital In Full

March 20 (Reuters) - UBM DEVELOPMENT AG:

* PTA-ADHOC: UBM DEVELOPMENT AG: UBM TO REPAY OUTSTANDING MEZZANINE CAPITAL IN FULL

* TO REPAY OUTSTANDING AMOUNT OF EUR 50M PLUS INTEREST ACCRUED FROM MEZZANINE CAPITAL PROVIDED BY PORR

* LIABILITY LIKELY TO BE REPAID IN EARLY APRIL 2018, BEFORE ORIGINALLY AGREED CONTRACTUAL TERM

* REPAYMENT TO BE FINANCED AMONGST OTHERS BY HYBRID BOND ISSUED IN FEB 2018 (ISSUE SIZE EUR 100M)

* EXPECTED ANNUAL REDUCTION IN UBM’S INTEREST EXPENDITURE OF AROUND EUR 0.5M Source text for Eikon: Further company coverage: (Gdynia Newsroom)

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