Vonovia Successfully Places EUR 1.3 Billion in Convertible Bonds

On May 13, 2025, Vonovia SE announced the successful placement of EUR 1.3 billion in senior, unsecured convertible bonds. The bonds are divided into two series, each valued at EUR 650 million, set to mature in 2030 and 2032, respectively. These bonds can be converted into new or existing ordinary shares of Vonovia, with current shareholder pre-emptive rights excluded.

The proceeds from this issuance are intended for general corporate purposes, including debt refinancing. The bonds were distributed via an accelerated bookbuilding process targeted towards institutional investors outside the United States.

Series A bonds will bear no interest, while Series B bonds have a 0.875% annual coupon. Settlement is expected around May 20, 2025, with trading planned on the Frankfurt Stock Exchange.