(Tiper Stock Exchange) – KME Group announces that the subsidiaries KME Real Estate, as transferor, and KME Germany, as tenant, have finalized the sale and leaseback agreement with the British firm Crescendo Real Estate Advisors.u
The conclusion of the operation saw the transfer from KME RE to Crescendo of ownership Osnabruck real estatewhich has an extension of over 570,000 square meters, occupied by industrial plant and give it offices and the contextual conclusion of the lease upthe entire property from part of KME Germany for a period of 30 years extendable for another 10 years (twice and therefore 30+10+10).
In the context of lease (in the form of the triple net agreement) KME Germany is the sole operator of the site, and will continue to manage the entire industrial plant as well as the offices. The annual fee agreed between the parties amounts to 7.08 million plus VAT and is subject to annual reassessment based on the CPI index (German index used for lease agreements).
KME Germany will continue to lease to the current sub-lessees the respective areas of the property, already currently located to them, for a total revenue of about 2.5 million euros plus VAT.
The execution of the operation allowed the collection of 90 million euros used entirely for the partial refund of the financing existing with Goldman Sachs Bank USAfor a total of 110 million, used on 8 December by the subholding KME SE for the early repayment of its senior guaranteed bond loan maturing in 2023.
The operation contributes significantly to the progressive deleveraging of the Groupas part of the process of further development of its core business