Icade: E600m 10-year bond issue at lowest rate
(CercleFinance.com) - Real estate group Icade announces that it has successfully completed a 600 million euro bond issue maturing in 10 years' time, with an annual coupon of 0.
625%, which is the lowest financing cost for the group over this term.
Oversubscribed to nearly three times by prime investors, this issue has enabled Icade to return to historically low margins, with a spread of 85 ct above the swap.
The funds raised will be allocated to the early redemption of the September 2022 train (initial amount of 500 million euros, at a rate of 1.875%), representing a total of 395.7 million euros.
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