Vonovia SE Strengthens Financial Position with Successful Wandelanleihen Placement

Vonovia SE, Germany’s leading real estate service provider, has announced the successful placement of EUR 1.3 billion in Wandelanleihen (convertible bonds). This strategic financial move is aimed at bolstering the company’s financial foundation, as reported by multiple financial news sources on May 13, 2025.

The bonds, which are non-subordinated and unsecured, were divided into two series. The first series, referred to as Series A, has a total nominal value of EUR 650 million and is set to mature on May 20, 2030. The second series, Series B, also has a nominal value of EUR 650 million, with a maturity date of May 20, 2035. These bonds were placed with institutional investors, as confirmed by Vonovia in a statement.

This financial maneuver comes at a time when Vonovia’s stock performance has been under scrutiny. The company’s shares, listed on the Xetra stock exchange, closed at EUR 30.13 on May 8, 2025, reflecting a significant drop from the 52-week high of EUR 33.93 on September 30, 2024, and a recovery from the 52-week low of EUR 24.03 on March 25, 2025. The market capitalization stands at EUR 24.06 billion, with a price-to-earnings ratio of -26.18, indicating challenges in profitability.

The placement of these Wandelanleihen is a proactive step by Vonovia to secure liquidity and strengthen its balance sheet amidst fluctuating market conditions. This move is particularly significant given the recent volatility in the company’s stock price, which has seen a notable decline from a high of EUR 41.56 five years ago.

In summary, Vonovia’s successful issuance of EUR 1.3 billion in Wandelanleihen marks a critical effort to enhance its financial stability and prepare for future growth opportunities in the competitive real estate sector.