IVG Immobilien AG / Key word(s): Capital Reorganisation 31.05.2013 21:07 Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- Bonn, 31 May 2013. IVG Immobilien AG has made further progress in developing a comprehensive financing strategy, as announced on 27 March 2013, with the aim of reaching a mutually agreed solution in the interests of all stakeholders. To date, the review has shown that IVG must reduce its existing liabilities by up to EUR 1.35 billion and by a further EUR 400 million (hybrid bond) to bring its loan-to-value ratio and its interest coverage ratio to a normal market level, thereby making it fit for the capital markets once again in the longer term. As part of the ongoing development of a long-term financing strategy, all divisions and their carrying amounts are also currently subject to a strategic review. In this context, it is likely that further adjustments to the value of certain balance sheet items will be made, although the amount of these adjustments is currently unknown. For the individual lenders, the current refinancing plan stipulates in particular a capital increase by way of contributions of bank loans (SynLoan I) and convertible and hybrid bonds (debt/equity swap) in line with the relevant lender's ranking within the capital structure. In preparation for this, IVG plans to restructure its convertible bond in accordance with the English legal system, which requires an approval rating of 75%, as well as restructuring its hybrid bond in line with the 2009 German Bond Act. To allow sufficient time for the talks with all major lenders that are currently in progress and that are required in order to implement the financing strategy, IVG has decided not to hold the company's Annual General Meeting in Bonn until 30 August 2013. The company wishes to note that the key aspects of a mutually agreed solution with all lenders must be reached before 20 July 2013 (the date on which the invitation to the 2013 Annual General Meeting will be sent to the Federal Gazette) so that this can be presented to the shareholders and put to a vote at the Annual General Meeting on 30 August 2013. 31.05.2013 DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------------- Language: English Company: IVG Immobilien AG Zanderstr. 5-7 53177 Bonn Germany Phone: +49 (0)228 844-400 Fax: +49 (0)228 844-372 E-mail: [email protected] Internet: www.ivg.de ISIN: DE0006205701, DE000A0JQMH5 WKN: 620570, A0JQMH Indices: SDAX Listed: Regulierter Markt in Berlin, Düsseldorf, Frankfurt (Prime Standard), München; Freiverkehr in Hamburg, Hannover, Stuttgart End of Announcement DGAP News-Service ---------------------------------------------------------------------------