LEG Immobilien has successfully completed the planned increase of its convertible bonds by 200 million euros.

The final issue price of the additional bonds is 103.8 percent of the nominal amount. The papers can be converted into a total of 1.75 million LEG shares, which corresponds to about 2.3 percent of the company's current share capital.

The net proceeds from the issuance shall primarily be used to refinance existing liabilities as well as for general corporate purposes, LEG further announced. This is an important step for the real estate group in optimizing its capital structure.

Despite the success in placement, LEG Immobilien's stock showed slight weakness in XETRA trading and was temporarily down 0.90 percent at 88.12 euros. Market observers attribute the price movement to temporary dilution due to the potential conversion of convertible bonds.