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Deutsche Wohnen announces 1.4 bln euro refinancing
September 3, 2014 / 6:32 AM / 3 years ago

Deutsche Wohnen announces 1.4 bln euro refinancing

FRANKFURT, Sept 3 (Reuters) - German real estate group Deutsche Wohnen announced refinancing plans with a total volume of 1.4 billion euros ($1.84 billion) that include a 400 million euro convertible bond.

The group said on Wednesday it aimed to refinance most of its financial liabilities maturing through 2017 with new bank loans with an average maturity of about five years.

It said it expected to reduce its annual interest expenses by at least 35 million euros and contractual amortisations by about 20 million euros over the term of the new financing.

$1 = 0.7615 euro Reporting by Maria Sheahan; Editing by Noah Barkin

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