Swiss Life Asset Management AG announces capital increase for Swiss Life REF (CH) ESG Swiss Properties

Swiss Life Asset Management AG plans a capital increase of around CHF 610 million for the Swiss Life REF (CH) ESG Swiss Properties fund in July 2024. The issue price is set at CHF 114.80 net per unit.

The issue will take place through public offering commissioning in Switzerland. Three subscription rights will allow the acquisition of a new share. Subscription will be open from July 2 to 12, 2024. Up to 5,400,000 new shares may be issued.

The calculation of the price includes the inventory value as of March 31, 2024, the participation in the current result and an issue commission of 1.5%. The release date for the shares is set for July 17, 2024. The proceeds of the issue will finance the acquisition of a real estate portfolio of 700 million francs as well as the renovation of residential buildings.