Klépierre: places bond loan
(CercleFinance.com) - Klépierre announces that it has placed a 600 million euro bond loan which matures on 1 July 2030, with an annual coupon of 0.
625%, the proceeds of which will be used to repay debts maturing in 2019 and 2020.
This bond was issued with a margin of 45 basis points above the 11-year swap rate, corresponding to a negative new issue premium and the lowest margin ever attained by a listed European real estate company on this maturity.
Oversubscribed to by 2.8 times, this loan, which has been placed with international investors, is part of its financing strategy, aimed at guaranteeing a high liquidity position, reducing the cost of debt and extending its average duration.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
625%, the proceeds of which will be used to repay debts maturing in 2019 and 2020.
This bond was issued with a margin of 45 basis points above the 11-year swap rate, corresponding to a negative new issue premium and the lowest margin ever attained by a listed European real estate company on this maturity.
Oversubscribed to by 2.8 times, this loan, which has been placed with international investors, is part of its financing strategy, aimed at guaranteeing a high liquidity position, reducing the cost of debt and extending its average duration.
Copyright (c) 2019 CercleFinance.com. All rights reserved.