A team led by capital markets expert Dr. Thorsten Kuthe legally advised The Grounds Real Estate Development AG on successfully placing its first convertible bond in the amount of EUR 12 million with significant oversubscription. The listed company’s shareholders were granted subscription rights. The transaction was accompanied by Quirin Privatbank AG.
The Grounds Group realizes residential projects in German metropolitan regions. In addition, The Grounds Group holds a steadily growing residential portfolio as fixed assets. Proceeds from the issue will enable the company to make further acquisitions. Numerous projects are currently being examined with a view to achieving continued strong growth in the current fiscal year.
Counsel to The Grounds Real Estate Development AG
Heuking Kühn Lüer Wojtek:
Dr. Thorsten Kuthe (Lead, Capital Markets),
Anna Richter, LL.M.,
Meike Dresler-Lenz, (both Capital Markets), all Cologne