Press releases
Ad hoc announcement pursuant to Art. 53 LR The 11th ordinary general meeting of shareholders of Zug Estates Holding AG was held today at the Theater Casino Zug and attended by 209 shareholders, representing a total of 76.4% of share capital with voting rights. The shareholders approved all proposals by the board of directors. The general meeting resolved that a total of CHF 20.9 million is to be paid out to shareholders for the 2022 financial year. The ordinary gross dividend (subject to withholding tax) amounts to CHF 4.10 per series A registered share and CHF 41.00 per series B registered share. After payment of the Swiss withholding tax of 35%, a net dividend of CHF 2.67 per series A registered share and CHF 26.65 per series B registered share remains. The net dividend will be paid out as of 14 April 2023 (payment date). All members of the board of directors who were proposed for re-election were confirmed for a further one-year term of office. Armin Meier did not stand for re-election. Joëlle Zimmerli, owner and managing director of Zimraum GmbH, a social science planning office, was elected as a new member of the board. Dr Beat Schwab was also confirmed as chairman of the board of directors. Johannes Stöckli was re-elected and Annelies Häcki Buhofer newly elected to the Nomination and Compensation Committee. The general meeting also approved all amendments to the articles of association, namely the anchoring of sustainability in the articles of association, the use of electronic aids for communication with shareholders, the possibility to hold general meetings virtually, the additional amounts for new group management members, the reduction of the maximum permissible additional mandates of members of the board of directors, as well as various formal adjustments to the new law. The 12th ordinary general meeting of shareholders of Zug Estates Holding AG will be held on 9 April 2024. Downloads: Important dates:
For further information, please contact:
About Zug Estates Zug Estates Holding AG | Industriestrasse 12 | CH-6300 Zug | T +41 41 729 10 10 | www.zugestates.ch |
Ad hoc announcement pursuant to Art. 53 LR Thanks to a broadly diversified portfolio in terms of uses and the major recovery in the hotel and catering sector, the last financial year was very positive for the Zug Estates Group.
The economic environment changed considerably in 2022. Sharply increasing prices for raw materials and energy, rising inflation and higher interest rates prompted uncertainty. At the same time, many sectors experienced a highly dynamic development following the lifting of coronavirus restrictions. This led to a strong recovery in demand for leased space, particularly for office and commercial space, as well as strong growth in revenues at properties with hotels and catering operations. Zug Estates generated very encouraging results in this market environment. Property income rose and the vacancy rate was reduced substantially. Revenues in the hotel & catering segment recovered markedly over the previous year, which had still been shaped strongly by the repercussions of the COVID-19 pandemic. Net income of CHF 39.8 million was generated in the 2022 financial year. This was CHF 35.8 million or 47.3% below the prior-year figure of CHF 75.6 million, with the decline attributable in full to higher revaluation effects as well as the sale of the property at Hofstrasse 1a/b in Zug in the previous year. At CHF 33.8 million, net income excluding revaluation and special effects was up by 6.3% or CHF 2.0 million compared to CHF 31.8 million in the previous year. Encouraging increase in operating revenue and key operating indicators Hotel & catering income rose substantially from CHF 8.4 million in the previous year to CHF 14.7 million, a year-on-year increase of CHF 6.3 million or 75.3%. Whereas international travel restrictions connected to the COVID-19 pandemic had a major impact on the two previous years, the last six months of the reporting period brought a recovery that was better than expected. This produced year-end results that were nearly back to pre-pandemic levels. Gross operating profit (GOP) amounted to 37.9% compared to 25.8% in the previous year. Operating revenue increased by CHF 5.9 million or 7.9%, from CHF 74.2 million to CHF 80.1 million. Despite the increase in income, property expenses remained nearly on a par with the previous year, increasing just slightly by CHF 0.2 million or 2.2%, from CHF 7.6 million to CHF 7.8 million. Operating income before depreciation and revaluation rose by 6.0% or CHF 2.8 million, from CHF 46.9 million to CHF 49.7 million. The high occupancy rate meant that a revaluation gain of CHF 6.8 million could be booked again in 2022; this corresponds to around 0.4% of the value of all of all investment properties in the portfolio as at 31 December 2022. A flattening of the market trend due to a higher interest rate environment did not lead to any further reductions in the discount rate. As a result, the revaluation gain amounted to CHF 35.6 million, which was 84.0% below the previous year’s high figure of CHF 42.4 million. The sale of a property outside our two sites in the previous year also generated a non-recurring gain on sale before tax of CHF 7.3 million. Due to the revaluation and special effects mentioned, EBIT was down by CHF 40.2 million or 43.1%, from CHF 93.2 million to CHF 53.0 million. With average interest rates remaining unchanged, financial expense rose slightly as a result of acquisitions from CHF 7.5 million to CHF 7.8 million, an increase of CHF 0.3 million or 3.5% over the previous year. Portfolio expanded through the acquisition of Renggli Holding AG The Group was also able to acquire another 0.75% co-ownership share of the Miteigentümergemeinschaft (MEG) Metalli in the second half of 2022. This increased the company's co-ownership share of MEG Metalli to 75.25%. A total of CHF 123.2 million was invested in the portfolio's expansion and development during the reporting period (previous year: CHF 8.6 million). The portfolio’s market value rose by 7.6%, from CHF 1.70 billion to CHF 1.83 billion, due to investments made and revaluation effects. Vacancy rate down substantially to 1.6% The vast majority of new leases related to office space at the Suurstoffi site. One of these was the S6 property with 4’500 m2 of rentable space, which was leased to Utopia Music AG in the first half of 2022. In the second half of 2022, Amgen extended its lease by five years for two of four storeys, or around 2’000 m2 of space, at the S22 property. Follow-up leases have already been concluded with Gambit Consulting AG and Axians Informa Schweiz AG for the two storeys that Amgen relinquished as at 31 January 2023. Additionally, one floor of the S14 property was leased to GSK Consumer Healthcare Schweiz AG and space totalling around 2’300 m2 at the S2 and S41 sites was leased to the Lucerne University of Applied Sciences and Arts. Further key steps in the implementation of the sustainability strategy In addition to reducing its operational greenhouse gas emissions, Zug Estates has also set its sights on increasing the amount of self-generated electricity even further. During the period under review from 1 April 2021 to 31 March 2022, the solar panels at the Suurstoffi site produced 1’140 MWh of energy, equivalent to the average consumption of 250 single-family homes. The first six houses at the City Centre site in Zug were also equipped with a solar installation in autumn 2022, which increased the installed photovoltaic capacity from 1’531 to 1’672 kWp. Further development of the Metalli Living Space and the S43/45 construction project The construction project for the S43/45 site in Rotkreuz is currently being revised. Drawing on the findings of leasing activities in the past two years and the change in tenant needs triggered by the COVID-19 pandemic, this revision is largely about increasing the flexibility of use. We currently plan to submit a project change request to the municipality of Risch Rotkreuz in the summer of 2023. Independent of the project revision work, an ongoing effort is being made to market those spaces. Equity ratio remains solid Interest-bearing debt, on the other hand, rose by CHF 99.4 million or 17.7%, from CHF 561.1 million to CHF 660.5 million. Interest-bearing debt as a percentage of total assets therefore amounted to 36.9% compared to 33.8% in the previous year. The average maturity of this debt declined slightly to 3.4 years (previous year: 3.6 years), whereby the average interest rate for the period for interest-bearing debt remained unchanged at 1.3%. A bond in the amount of CHF 100.0 million that was due to expire was replaced by another green bond on 17 February 2022. After becoming the first listed real estate company in Switzerland to issue a green bond in 2019, another issue has made Zug Estates the first listed real estate company in Switzerland to switch to green financing products for its entire bond portfolio. With a maturity of just over seven years and a coupon of 0.75%, the new bond was concluded in a very favourable interest rate environment. Dividend increase and change in the board of directors After serving on the board of directors for ten years, Armin Meier will not stand for re-election at the general meeting of shareholders. Drawing on his extensive strategic and operational leadership experience in a variety of sectors, he made a very valuable contribution toward the Zug Estates Group’s successful and long-term development. We are very grateful to him for this. The board of directors proposes to the annual general meeting of shareholders that Joëlle Zimmerli be elected as a new member. With PhDs in sociology and planning, she deals intensively with topics related to urban development and frequently sits on the juries of architectural competitions. Among other things, she is a member of the board of directors in the Green Building Association Switzerland and she ideally complements the board with her skills and knowledge. Outlook for 2023 In the hotel & catering segment, we expect the recovery seen in the second half of 2022 to continue. However due to the overall refurbishment project scheduled to start at the Bären site in April 2023 as well as the renovation of all catering and conference spaces at Parkhotel, which is scheduled to take place from June to October 2023, we expect income to fall slightly short of that of the previous year. Since reconstruction work in 2023 will have a noticeably negative impact on the GOP margin and electricity costs will be considerably higher, we assume that the results from this segment will be much lower. All in all, we expect net income excluding revaluation and special effects to be slightly lower in the 2023 financial year.
Reporting from 24 February 2023 You can access the detailed report on the 2022 financial year by visiting our website: A press conference on our annual results is being held in German at 11:00 a.m. today at the Parkhotel Zug. Patrik Stillhart (CEO) and Mirko Käppeli (CFO) will be presenting the annual results for 2022 and answering questions afterwards. For the first time, we have arranged this press conference as a hybrid event, which means you can access it via Zoom if you can’t make it in person. Online attendees will also be able to ask questions. Please register for the press conference via the link below. We look forward to welcoming you to the press conference – in person or online. https://zugestates.ch/en/stories/balance-sheet-press-conference-2023 Downloads: Important dates:
For further information, please contact:
About Zug Estates Zug Estates Holding AG | Industriestrasse 12 | CH-6300 Zug | T +41 41 729 10 10 | www.zugestates.ch |
Ad hoc announcement pursuant to article 53 Listing Rules Retroactively with effect on 1 October 2022, Zug Estates Holding AG is acquiring 100% of the shares of Renggli Holding AG, domiciled in Zug, which owns 12 properties in the Zug and Rotkreuz area. The acquired real estate portfolio, with a residential property share of nearly 50% and value of around CHF 110 million, includes a business property in Zug as well as a 19,000 m² development site with residential and commercial properties in Rotkreuz that is directly adjacent to the Suurstoffi site. Annual rental income amounts to more than CHF 2.6 million and the vacancy rate on 30 September 2022 was at around 0.2%. Patrik Stillhart, CEO of Zug Estates Holding AG, is thrilled about this acquisition and explains: “The properties of Renggli Holding AG perfectly supplement our portfolio, which focuses on central, well-connected locations in the Canton of Zug. The site we acquired in Rotkreuz, in particular, has attractive development potential.” Downloads: Important dates:
For further information, please contact:
About Zug Estates Zug Estates Holding AG | Industriestrasse 12 | CH-6300 Zug | T +41 41 729 10 10 | www.zugestates.ch |
Ad hoc announcement pursuant to article 53 Listing Rules
The first half of 2022 was shaped by the Ukraine crisis and its impact on the economic environment: sharply increasing commodity and energy prices, as well as rising inflation and interest rates. At the same time, many sectors experienced a strong recovery once coronavirus restrictions were lifted, leading to robust demand – particularly for office and commercial space – as well as rising sales in the hotel & catering segment. Rental income went up in the first half of 2022 and the vacancy rate fell further. In the hotel & catering segment, sales increased noticeably from April 2022 onwards, reaching a level in May and June that was comparable with sales before the COVID-19 pandemic. At CHF 27.9 million, net income was CHF 4.8 million – or 14.6% – below the previous year’s level of CHF 32.7 million, which included a gain on sale before tax of CHF 7.3 million resulting from the sale of the property at Hofstrasse 1a/b in Zug. After adjustment for revaluation and special effects, net profit rose by CHF 1.4 million, or 8.6%, from CHF 15.4 million to CHF 16.8 million. The main reasons for this strong performance were the higher property income, increased income from the hotel & catering segment, and lower property expenses. Increase in operating profit thanks to successes in both segments Income generated by the hotel & catering segment went up considerably – by CHF 3.8 million, or 142.0%, from CHF 2.6 million to CHF 6.4 million. While the negative effects of the COVID-19 pandemic had an impact on the whole of the corresponding period in the previous year, an encouraging recovery began in 2022 following a mixed first quarter. As a result, gross operating profit (GOP) also increased – from 8.1% to 38.0%. In addition, the economic losses sustained during the pandemic were mitigated somewhat in the first half of the 2021 by the one-off payment of a non-returnable COVID-19 grant in the amount of CHF 2.1 million. In all, operating revenue rose by CHF 2.4 million, or 6.5%, from CHF 36.1 million to CHF 38.5 million. At CHF 3.2 million, property expenses were down CHF 0.8 million, or 19.9%, on the prior-year figure of CHF 4.0 million. For individual, larger maintenance measures that are planned – such as the partial renovation of the facade at the Metalli Living Space complex – the more expensive work will not be carried out until the second half of the year. Staff costs went up by CHF 1.0 million, or 16.1%, from CHF 6.0 million to CHF 7.0 million. This was because of increasing activities in the hotel & catering segment, as well as lower short-time working compensation. Portfolio value slightly up Significant reduction in the vacancy rate up to the end of 2022 The conclusion of a ten-year rental agreement with Utopia Music AG for property S6 at Suurstoffi will mean another significant reduction in the vacancy rate in the second half of the year. It will be below 2% at the end of 2022. In July 2022, the company – which is currently based in Zug – began renting the whole of property S6 with 4,500m2 of rentable space. Overall, demand for space proved to be robust in the first half of 2022. Rental agreements for a total of 10,500m2 and with rental income of around CHF 4.6 million p.a. were extended or concluded for the first time in the first half of the year. The agreements concluded concern both office space at Suurstoffi and the City Center site, as well as retail space at the Metalli complex. Demand for residential space remains extremely robust. Solid equity ratio At the beginning of the year, a maturing conventional bond of CHF 100.0 million was replaced with another green bond in an interest rate environment that at the time was still much more attractive. The term is slightly longer than seven years with a coupon of 0.75%. Zug Estates is thus the first listed Swiss real estate company to switch its entire bond portfolio to sustainable financial products. As a result, the average financing term increased from 3.6 years as at 31 December 2021 to 4.4 years as at 30 June 2022, with the average interest rate unchanged at 1.3%. Project development with a focus on the Metalli Living Space complex Further reduction in carbon emissions and replacement of the last oil heating system in the portfolio In future, we will be placing more of a focus on increasing production of our own energy, as well as consuming regional, renewable energy. Between 1 April 2021 and 31 March 2022, the solar panels at Suurstoffi produced 1,140 MWh of energy, equivalent to the average consumption of 250 houses. The installation of solar panels at the City Center site will further increase production of our own energy. The first step will be taken in autumn 2022 when six houses in the Haldenhof area will be equipped with solar panels, with the energy generated being shared by the residents of those houses (under a so-called ZEV arrangement). Sustainable goals will play an important role in the further development of the Metalli Living Space complex in the centre of Zug. Thanks to Circulago, business is already virtually carbon-free. We are therefore focusing on the areas of biodiversity and recycling. However, social topics such as creating a diverse range of cultural and leisure activities and building affordable residential space are also at the heart of our plans. Full details of our sustainability strategy can be found at https://zugestates.ch/en/sustainability. Positive outlook for 2022 In the hotel & catering segment, we are cautiously optimistic for the second half of the year and expect a further recovery provided there is no repeat of the negative effects on international business travel associated with a rise in COVID-19 cases and the geopolitical situation does not change. We still expect net income excluding revaluation and special effects to exceed CHF 30 million. Report of 26 August 2022 The detailed report on the first half of 2022 can be found on our website: A video conference will be held in German at 10 a.m. today. CEO Patrik Stillhart and CFO Mirko Käppeli will present the half-year results for 2022 and then respond to questions. The associated presentation will be available on our website from 9 a.m. at: Please register for the conference via the link below. We look forward to your participation.
Important dates:
For further information, please contact:
About Zug Estates Zug Estates Holding AG | Industriestrasse 12 | CH-6300 Zug | T +41 41 729 10 10 | www.zugestates.ch |
Ad hoc announcement pursuant to article 53 Listing Rules Zug Estates AG has signed a ten-year rental contract with Utopia Music AG for space totalling 4,500 m2. Currently based in Zug, the company will start renting the entire Suurstoffi 6 building on the Suurstoffi site in Risch Rotkreuz in July 2022. This latest agreement will amount to a significant reduction in the vacancy rate for Zug Estates. Alain Baumgartner, Head of Portfolio Management at Zug Estates AG, is delighted to be welcoming the newest addition to Suurstoffi: “Utopia Music AG is one of the world’s leading music fintech companies and their innovative spirit tells me they will fit in perfectly with the other tenants at the site.” Suurstoffi 6 is a wooden hybrid building with seven floors. With construction work having finished back in 2020, it’s now one of three buildings on construction site 1, which is also home to the Zug Rotkreuz campus of Lucerne University of Applied Sciences and Arts. The modern wooden construction meets the most stringent of sustainability requirements. Having been designed to keep the use of resources to a minimum, the building can be operated with almost zero carbon emissions being generated thanks to the site’s own energy system.  Downloads: Important dates:
For further information, please contact:
About Zug Estates Zug Estates Holding AG | Industriestrasse 12 | CH-6300 Zug | T +41 41 729 10 10 | www.zugestates.ch |
Ad hoc announcement pursuant to article 53 Listing Rules The tenth ordinary general meeting of shareholders of Zug Estates Holding AG was held today at Theater Casino Zug and attended by 203 shareholders, representing a total of 67.5% of share capital with voting rights. All proposals by the board of directors were approved. Specifically, the general meeting resolved that a total of CHF 19.1 million is to be paid out to shareholders for the 2021 financial year. The ordinary gross dividend (subject to withholding tax) amounts to CHF 3.75 per series A registered share and CHF 37.50 per series B registered share. A net dividend of CHF 2.44 per series A registered share and CHF 24.38 per series B registered share remains following payment of the Swiss withholding tax of 35%. The net dividend amount will be paid out starting Wednesday, 20 April 2022 (payment date). All members of the board of directors who were proposed for re-election were confirmed for a further one-year term of office. Dr Beat Schwab was also confirmed as chairman of the board of directors. Armin Meier and Johannes Stöckli were elected as members of the Nomination and Compensation Committee. In a consultative vote, the general meeting of shareholders declared its agreement with the compensation report and approved the remuneration to the members of the board of directors and Group Management. The next ordinary general meeting of shareholders of Zug Estates Holding AG will be held on 06 April 2023. Downloads: Important dates:
For further information, please contact:
About Zug Estates Zug Estates Holding AG | Industriestrasse 12 | CH-6300 Zug | T +41 41 729 10 10 | www.zugestates.ch |
Ad hoc press release pursuant to article 53 Listing Rules
Zug Estates Group has achieved strong annual results thanks to a high-quality portfolio that is broadly diversified in terms of use. The property portfolio of the Zug Estates Group performed quite well in the 2021 financial year. Property income rose yet again and the vacancy rate was reduced from 5.0% to 4.0%. In the hotel & catering segment, the environment remained challenging in 2021 due to the consequences of the COVID-19 pandemic. Nevertheless, sales generated through catering and hotel operations were up slightly over the previous year. This resulted in net income of CHF 75.6 million in the 2021 financial year, which is CHF 43.3 million or 134.2% above the prior-year figure of CHF 32.3 million. This substantial year-on-year increase is attributable in particular to positive revaluation effects as well as the successful sale of the Hofstrasse 1a/b property in Zug. Net income excluding revaluation and special effects was also boosted considerably, up CHF 5.9 million or 23.0% to CHF 31.8 million (previous year: CHF 25.9 million). Net income increased due to higher property income In a persistently challenging environment still shaped by the COVID-19 pandemic, hotel & catering income rose at a low level by CHF 1.4 million or 20.1%, from CHF 7.0 million to CHF 8.4 million. The easing of travel restrictions in the second half of 2021 helped in this respect. Sales were down again towards the end of the year as the omicron variant spread. Persistently robust demand for our Serviced City Apartments and strict cost management resulted in a gross operating profit (GOP) of 25.8% (previous year: 9.1%). The economic losses were also mitigated somewhat through the one-time payment of a COVID-19 non-repayable contribution in the amount of CHF 2.1 million. The corresponding effects are reported under other operating revenue. The sale of the last condominiums in the Aglaya project in Rotkreuz still generated revenue of CHF 72.5 million in the previous year. As expected, the cessation of this revenue reduced operating revenue by CHF 66.2 million or 47.1%, from CHF 140.4 million to CHF 74.2 million. A reduction in renovation work performed at the Metalli complex in Zug also resulted in lower property expenses, which were down by CHF 1.4 million or 15.3%, from CHF 9.0 million to CHF 7.6 million, as expected. The effects mentioned above reduced operating income before depreciation and revaluation from CHF 49.6 million to CHF 46.9 million, a CHF 2.7 million or 5.4% decline. 2021 brought a revaluation gain of CHF 42.4 million compared to a revaluation loss of CHF 2.2 million in the previous year. The sale of the final property outside our two sites also generated a gain on sale before tax of CHF 7.3 million. No investment properties were sold in the previous year. EBIT rose considerably by CHF 49.5 million or 112.9%, from CHF 43.7 million to CHF 93.2 million, as a result. With average interest rates on interest-bearing financial liabilities remaining unchanged, financing costs were capitalised at a lower rate, which caused financing costs to increase by CHF 0.3 million or 3.9%, from CHF 7.2 million to CHF 7.5 million. Portfolio value increases to CHF 1.7 billion Vacancy rate reduced to 4.0% Residential products have hardly reported any vacancies for years and even the retail and catering spaces enjoy very brisk demand. New leases for retail space were concluded with the brands Orell Füssli, McOptic and Otto's Beauty at the Metalli mall, for example, as well as one lease for a catering operation at the Suurstoffi site. What's more, the Secret Garden pop-up restaurant has invigorated the restaurant portion of the City Garden Hotel since May 2021, while the Metalli complex saw the Miss Miu themed restaurant open its doors in August 2021. Leases for space totalling more than 12'500m2 and rental income of more than CHF 4.8 million p. a. were renewed or extended during the year under review. The longest lease extensions are those for the office spaces at the Suurstoffi site used by Novartis Pharma Schweiz AG, which signed a lease extension for a smaller 4'800m2 office space with a term that extends until at least 31 December 2027, as well as the office spaces at the Metalli complex used by Hoerbiger Holding AG. Additionally, new leases were concluded for around 1'000m2 of office space at the Suurstoffi site and 1'500m2 at the City Center site. Sustainability reporting expanded and nearly CO2-free operation With its completion of the new buildings at the Suurstoffi site as well as the connection of the Metalli complex to the Circulago lake water district, Zug Estates has been able to slash its greenhouse gas emissions by 90%, from 17.3 to 1.8 kg per square metre of energy reference area, between 2010 and 31 March 2021. That positions Zug Estates as a leader in Switzerland. Another nine properties were connected to the Circulago lake water district in the year under review, which will reduce its CO2 emissions even further. Connecting the remaining properties by 2023 will enable Zug Estates to operate its entire portfolio with nearly no CO2 emissions. Metalli Living Space development project With a view to the upcoming architectural competition and while development plans are being drawn up by the City of Zug, Zug Estates is revisiting the positioning and design of the building's various use segments and parts. When developing the Metalli Living Space, Zug Estates intends to preserve those elements that work while also creating ample space for something new. Very solid equity ratio Interest-bearing debt declined by CHF 30.7 million or 5.2% during the period under review, from CHF 591.8 million to CHF 561.1 million. Interest-bearing debt as a percentage of total assets therefore amounted to 33.8% compared to 36.4% in the previous year. The average maturity of this debt amounted to 3.6 years (previous year: 4.3 years), whereby the average interest rate for the period for interest-bearing debt has remained unchanged at 1.3%. A conventional bond in the amount of CHF 100.0 million that was due to expire was replaced by another green bond on 17 February 2022. That makes Zug Estates the first listed real estate company in Switzerland to have a bond portfolio comprised exclusively of green financing products. The new bond has a term of just over seven years and a coupon of 0.75%. Ordinary dividend raised Outlook for 2022 Developments in the hotel & catering segment hinge largely on how the COVID-19 pandemic plays out. Compared to the previous year, we anticipate better capacity utilisation and an increase in total income. The results in the hotel & catering segment will be lower, though, due to the elimination of the COVID-19 non-repayable contribution under other operating revenue. All in all, we expect net income excluding revaluation and special effects to slightly exceed CHF 30 million for the 2022 financial year. Report dated 4 March 2022 A virtual financial results press conference will be held at 10 a.m. today in German. Patrik Stillhart (CEO) and Mirko Käppeli (CFO) will present the 2021 annual results, after which they will be available to answer questions. Please use the link that follows to sign up for the conference. We look forward to greeting you. https://www.zugestates.ch/en/stories/registration-annual-media-conference Downloads: Important dates:
For further information, please contact:
About Zug Estates Zug Estates Holding AG | Industriestrasse 12 | CH-6300 Zug | T +41 41 729 10 10 | www.zugestates.ch |
Press release Zug Estates Holding AG today issued a second green bond for CHF 100 million. This means that the bond portfolio consists entirely of financial instruments focused on sustainability. Having been the first Swiss real estate company to issue a green bond back in September 2019, Zug Estates today issued another green bond for CHF 100 million, with a coupon rate of 0.75%, a term of 7.17 years and payment due on 17 February 2022. In line with the Zug Estates Group's sustainability strategy, this second green bond means that the Zug Estates bond portfolio consists entirely of financial instruments focused on sustainability. There has been widespread interest in today's placement amongst institutional investors because all the funds have been invested directly into the Suurstoffi site in Risch Rotkreuz, which meets the most stringent of sustainability requirements and is already almost carbon-free. Zurich Cantonal Bank and UBS AG acted as joint lead manager/joint book runner for the green bond issue. The application for admission to trading on the SIX Swiss Exchange is being submitted.
Downloads: Important dates:
For further information, please contact:
About Zug Estates Zug Estates Holding AG | Industriestrasse 12 | CH-6300 Zug | T +41 41 729 10 10 | www.zugestates.ch |
Your contact
Philipp Hodel
Head of Corporate Communication
+41 41 729 10 36
philipp.hodel@zugestates.ch
Zug Estates AG
Industriestrasse 12
CH-6300 Zug