LEG Immobilien offers defensive exposure with new convertible

LEG_Immobilien_PA_575_375
By Aidan Gregory
24 Jun 2020

LEG Immobilien, the German residential landlord, has raised €823m via the sale of new shares and convertible bonds to fund the acquisition of new properties amid heightened investor interest in the sector.

Both legs of the transaction attracted substantial demand. The €273m share sale was multiple times covered, according to several sources familiar with the matter, and there were close to 100 lines in the €550m convertible bond book.

German residential real estate has long been a darling of ...

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