Swiss Life REF (CH) ESG Swiss Properties: Largest Capital Increase Successfully Completed

Swiss Life Asset Managers has announced the successful completion of the largest capital increase by a listed Swiss real estate fund. The Swiss Life REF (CH) ESG Swiss Properties fund has secured around CHF 610 million in new funds, positioning it among the five largest exchange-listed real estate funds in Switzerland.

The capital increase, conducted from 2 to 12 July 2024, concluded with an issue volume of CHF 610 million. The fund’s market capitalisation now stands at approximately CHF 2.5 billion. The commission-based issue was performed on a best-effort basis via a public rights offer in Switzerland, resulting in a 100% subscription rate for 5,400,000 new units.

Proceeds from the capital increase will be used to acquire a CHF 700 million real estate portfolio, contributing positively to the fund's net income. The portfolio includes primarily residential properties in well-connected suburbs. Additionally, the funds will be allocated to renovating existing buildings and reducing the borrowing ratio to around 23%.