DGAP-News: GSG financing: standstill agreement prolonged

DGAP-News: ORCO Germany S.A. / Key word(s): Agreement GSG financing: standstill agreement prolonged

25.07.2012 / 08:50

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Standstill Agreement

GSG financing: standstill agreement prolonged

Berlin, July 25th, 2012. The GSG loan standstill agreement between GSG Asset GmbH & Co.?Verwaltungs KG, a subsidiary of ORCO Germany S.A., and The Royal Bank of ?Scotland, signed in April 2012, was due to terminate on July 20th, 2012. The parties agreed to prolong this standstill agreement until August 31st. The standstill includes one condition subsequent that requires some progress in obtaining refinancing which has to be fulfilled by August 15th.

About ORCO Germany

ORCO Germany S.A. is a property company that is listed in the Prime Standard on the Regulated Market at Frankfurt Stock Exchange and has its registered office in Luxembourg. The ORCO Germany Group, which acts consistently under its registered name of ORCO Germany, has been operating in Germany since 2004 and concentrates on commercial property and project development.

ORCO Germany is a subsidiary of ORCO Property Group, which is one of the leading Central European property companies. The ORCO Property Group, established in 1991, is based in Luxembourg and has listings on NYSE Euronext Paris, Prague and Warsaw stock exchanges.

For further information please contact:

Press Contact: Kirchhoff Consult AG Sebastian Bucher Herrengraben 1 20459 Hamburg T +49 40 60 91 86 18 F +49 40 60 91 86 60 E sebastian.bucher@kirchhoff.de


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Language: English
Company: ORCO Germany S.A.
42, rue de la Vallée
L-2661 Luxembourg
Grand Duchy of Luxembourg
Phone: +49 (0)30 390 93 116
Fax: +49 (0)30 390 93 199
E-mail: patricia.jaenisch@orco-gsg.de
Internet: www.orcogermany.de
ISIN: LU0251710041
WKN: A0JL4D
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Düsseldorf, Stuttgart


End of News DGAP News-Service
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179007 25.07.2012

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Firmenname: ORCO Germany S.A.; Land: Großherzogtum Luxemburg; VWD Selektoren: 1E;