Ares Management Corporation, a global alternative investment manager that invests across Credit, Private Equity and Real Estate, subscribed for CHF 50 million mandatory convertible bond issued by the real estate Peach Property Group.
Headquartered in Zurich, Peach is a property investor and developer focused on investments in Germany and publicly listed on SIX Swiss Exchange. The mandatory convertible bonds will be issued at an issue price of 60% of the nominal value which arithmetically results in a conversion price of the new Peach shares of CHF 18. The payment of interests will be made cumulatively at maturity in Peach shares. Peach will use the proceeds from the issue in full to repay debt and reduce its Group LTV by around 2.4%.
Advestra has advised Ares on all legal matters relating to the transaction, including takeover law aspects. The team included partner Sandro Fehlmann (pictured left), partner Thomas U. Reutter (pictured right), partner Roland Truffer, associate Fabian Wild and Selina Oes (all capital markets, corporate/m&a).