{"id":5720,"date":"2024-08-26T15:19:22","date_gmt":"2024-08-26T13:19:22","guid":{"rendered":"https:\/\/www.gieag.de\/?p=5720"},"modified":"2024-08-26T15:19:48","modified_gmt":"2024-08-26T13:19:48","slug":"gieag-immobilien-ag-gieag-successfully-completes-refinancing-measures-and-secures-liquidity","status":"publish","type":"post","link":"https:\/\/www.gieag.de\/en\/gieag-immobilien-ag-gieag-successfully-completes-refinancing-measures-and-secures-liquidity\/","title":{"rendered":"GIEAG Immobilien AG: GIEAG successfully completes refinancing measures and secures liquidity"},"content":{"rendered":"<div class=\"wpb-content-wrapper\"><p>[vc_row][vc_column][vc_column_text css=&#8221;&#8221;]Munich, 26 August 2024 &#8211; GIEAG Immobilien AG (\u2018GIEAG\u2019) announces that the challenges identified as part of a review of the liquidity situation initiated by the company have been overcome by successfully implementing refinancing measures.\u00a0 The company was able to sell several portfolio properties and successfully conclude negotiations with the main financing banks, leading to an extension of the required financing of up to three years.<br \/>\nIn addition, several financing measures in the form of shareholder loans and loans from related parties as well as two additional loans from the principal bank contributed to stabilising the liquidity situation.<br \/>\nOn the basis of these measures, auditing firms commissioned for this purpose have each issued a positive going concern forecast in the form of an Independent Business Review (IBR). The company&#8217;s financial situation has stabilised, which means that the continuation of the company and its project companies is assured.<br \/>\nGIEAG will continue to inform the capital market about significant developments in accordance with legal requirements.[\/vc_column_text][\/vc_column][\/vc_row]<\/p>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>[vc_row][vc_column][vc_column_text css=&#8221;&#8221;]Munich, 26 August 2024 &#8211; GIEAG Immobilien AG (\u2018GIEAG\u2019) announces that the challenges identified as part of a review of the liquidity situation initiated by the company have been overcome by successfully implementing refinancing measures.\u00a0 The company was able to sell several portfolio properties and successfully conclude negotiations with the main financing banks, leading [&hellip;]<\/p>\n","protected":false},"author":11,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[105],"tags":[],"class_list":["post-5720","post","type-post","status-publish","format-standard","hentry","category-ad-hoc-en"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>GIEAG Immobilien AG: GIEAG successfully completes refinancing measures and secures liquidity - GIEAG<\/title>\n<meta name=\"description\" content=\"The nationwide project developer GIEAG Immobilien AG (GIEAG) is reacting to the significant changes in the current market and interest rate environment, which are accompanied by increasing short-term uncertainties and limited visibility. Against this backdrop, the GIEAG management board decided today to suspend the financial forecast for 2022. The revenue and profit expectations forecast for the current year can in all likelihood no longer be achieved. The reason for this is the current market development, which leads to a significantly slower transaction activity on the real estate market and thus also for GIEAG to significantly lower sales revenues. Further factors are the interest rate increases that have already occurred and are expected to continue, which will result in higher financing costs.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.gieag.de\/en\/gieag-immobilien-ag-gieag-successfully-completes-refinancing-measures-and-secures-liquidity\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"GIEAG Immobilien AG: GIEAG successfully completes refinancing measures and secures liquidity - GIEAG\" \/>\n<meta property=\"og:description\" content=\"The nationwide project developer GIEAG Immobilien AG (GIEAG) is reacting to the significant changes in the current market and interest rate environment, which are accompanied by increasing short-term uncertainties and limited visibility. Against this backdrop, the GIEAG management board decided today to suspend the financial forecast for 2022. The revenue and profit expectations forecast for the current year can in all likelihood no longer be achieved. The reason for this is the current market development, which leads to a significantly slower transaction activity on the real estate market and thus also for GIEAG to significantly lower sales revenues. Further factors are the interest rate increases that have already occurred and are expected to continue, which will result in higher financing costs.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.gieag.de\/en\/gieag-immobilien-ag-gieag-successfully-completes-refinancing-measures-and-secures-liquidity\/\" \/>\n<meta property=\"og:site_name\" content=\"GIEAG\" \/>\n<meta property=\"article:published_time\" content=\"2024-08-26T13:19:22+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-08-26T13:19:48+00:00\" \/>\n<meta name=\"author\" content=\"Laura Thunich\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Laura Thunich\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.gieag.de\\\/en\\\/gieag-immobilien-ag-gieag-successfully-completes-refinancing-measures-and-secures-liquidity\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.gieag.de\\\/en\\\/gieag-immobilien-ag-gieag-successfully-completes-refinancing-measures-and-secures-liquidity\\\/\"},\"author\":{\"name\":\"Laura Thunich\",\"@id\":\"https:\\\/\\\/www.gieag.de\\\/#\\\/schema\\\/person\\\/06a1fb2e38fd2ef48cf350945a06bdbe\"},\"headline\":\"GIEAG Immobilien AG: GIEAG successfully completes refinancing measures and secures liquidity\",\"datePublished\":\"2024-08-26T13:19:22+00:00\",\"dateModified\":\"2024-08-26T13:19:48+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.gieag.de\\\/en\\\/gieag-immobilien-ag-gieag-successfully-completes-refinancing-measures-and-secures-liquidity\\\/\"},\"wordCount\":188,\"publisher\":{\"@id\":\"https:\\\/\\\/www.gieag.de\\\/#organization\"},\"articleSection\":[\"Ad-hoc\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.gieag.de\\\/en\\\/gieag-immobilien-ag-gieag-successfully-completes-refinancing-measures-and-secures-liquidity\\\/\",\"url\":\"https:\\\/\\\/www.gieag.de\\\/en\\\/gieag-immobilien-ag-gieag-successfully-completes-refinancing-measures-and-secures-liquidity\\\/\",\"name\":\"GIEAG Immobilien AG: GIEAG successfully completes refinancing measures and secures liquidity - GIEAG\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.gieag.de\\\/#website\"},\"datePublished\":\"2024-08-26T13:19:22+00:00\",\"dateModified\":\"2024-08-26T13:19:48+00:00\",\"description\":\"The nationwide project developer GIEAG Immobilien AG (GIEAG) is reacting to the significant changes in the current market and interest rate environment, which are accompanied by increasing short-term uncertainties and limited visibility. Against this backdrop, the GIEAG management board decided today to suspend the financial forecast for 2022. The revenue and profit expectations forecast for the current year can in all likelihood no longer be achieved. The reason for this is the current market development, which leads to a significantly slower transaction activity on the real estate market and thus also for GIEAG to significantly lower sales revenues. 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Against this backdrop, the GIEAG management board decided today to suspend the financial forecast for 2022. The revenue and profit expectations forecast for the current year can in all likelihood no longer be achieved. The reason for this is the current market development, which leads to a significantly slower transaction activity on the real estate market and thus also for GIEAG to significantly lower sales revenues. 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