German investor and project developer IFM Immobilien plans to issue a EUR 25 mln convertible bond to generate capital for new acquisitions or developments. The transaction will be coordinated by Close Brothers Seydler Bank, which will also act as lead manager alongside BHF-Bank.

The offer will in principle be aimed at existing shareholders. Partial bonds not subscribed for will be offered to selected investors using the bookbuilding process. The offer is expected to be carried out within the next few weeks.

IFM Immobilien focuses on offices and inner-city retail properties. It currently has a portfolio valued at around EUR 400 mln, including projects under development, and aims to boost this to EUR 500 mln in the medium term.