Baker Tilly advises on financing transaction of Münchner Wohnen in the amount of Euro 200 million
Banking and capital market law related advice for forward-looking corporate financing through promissory note loans and registered bonds
Munich, July 30, 2024 - The international consulting firm Baker Tilly has advised Münchner Wohnen GmbH, one of the largest residential construction companies in Germany with more than 70,000 residential units, on banking and capital markets law in connection with a financing transaction in the amount of EUR 200 million. The legal advice provided by the team led by Munich-based Baker Tilly partners Heinrich Thiele and Stephan Zuber focused on the areas of contract documentation, preparation of the legal opinion and fulfillment of the disbursement requirements.
The transaction started marketing with a term sheet volume of EUR 100 million. However, due to high investor demand, in particular for longer terms, this volume was oversubscribed several times within a short period of time, which is why twice the amount could be successfully placed with more than 30 investors at the lower end of the marketing range. In a dynamic capital market environment (positive interest rate expectations vs. gloomy economic data, difficult environment in the real estate sector, geopolitical situation), Münchner Wohnen GmbH delivered an outstanding performance.
About Münchner Wohnen GmbH
Münchner Wohnen GmbH is the municipal housing association of the City of Munich, which is responsible for providing secure and socially responsible housing for Munich’s population as part of its public services. To this end, it is planning extensive new construction measures and energy-efficient renovations to the existing housing stock in the coming years.
