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Business Description

Consus Real Estate AG (“Consus”) is the largest German real estate developer with c.€10bn of property under development. The company is headquartered in Berlin and operates 68 sites across 9 of Germany's top cities.

Consus specialises in large scale real-estate projects, such as the development of entire neighbourhoods (known as ‘quartiers’). Projects are forward sold to institutional buyers such as BNP Paribas, Hannover Leasing and Commerzbank. Forward selling projects provides management & investors with good visibility over the company's future cash flows.

The company operates along the entire real estate development value chain. From acquiring and developing sites to letting and providing other services in connection therewith via its subsidiaries CG Gruppe AG and SSN Group AG.

Equity is traded on the Frankfurt Stock Exchange.

Bond Information

Coupon
9.625%
15 May 2024
Repaid On
26 May 2021
Previous Payment
15 May 2024
Interest Period
6 months
XS1843437465
Senior Secured
€450,000,000
S&P:  B+
Fitch:  B-
15 May 2021 at 104.813
15 May 2022 at 102.406
15 May 2023 at 100
Status
Repaid

* Current Yield and Yield to Maturity are on estimated return calculations and not guaranteed. All yields shown are gross of Taxation and our Service Fee.

Company Information

Company Legal Name
CONSUS Real Estate AG
Industry
Property
Country of Origin
Germany
Year of Incorporation
2008
Ownership Status
Public

Capital Structure

Type €m x EBITDA* % of capitalisation* Coupon* EBITDA/Interest*
Cash and equivalents na na na na na
Net super senior debt na na na na na
1st lien secured debt na na na na na
Net secured debt na na na na na
Unsecured debt na na na na na
HoldCo / PIK / Project debt na na na na na
Uncategorized debt na na na na na
Net debt na na na na na
Equity value na na na na na
Enterprise value na na na na na
LTM EBITDA 252.45          
Cash Interest 215.13          

Source: Aggredium

* An asterisk next to an item indicates there is additional information available if you hover over it. You can also find a definition of the terms used on this page in our Glossary.

Key Financials

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Please note as a WiseAlpha member you are not lending directly to the corporate borrower. Instead, you are purchasing Fractional Bonds, each one backed by a specific bond. See Risk Statement.