Klépierre: issues E600m bonds at 0.875%
(CercleFinance.com) - Late on Monday Klépierre announced that it has made a 600 million euro bond issue, maturing in February 2031, with an annual coupon of 0.
875%.
Most of the funds raised will be used to repay debt maturing in the first quarter of 2021.
Oversubscribed to over 3 times by investors, the bond issue was placed with leading long-term international investors, mainly based in France, Germany, Japan and the UK.
This new issue is part of Klépierre's financing strategy, which aims to ensure a high liquidity position while extending the average maturity of its debt, the cost of which (1.2% at end-June 2020) is set to decrease.
Note that the Klépierre share rocketed over 30% to close at exactly 15 euros on Monday.
Copyright (c) 2020 CercleFinance.com. All rights reserved.
875%.
Most of the funds raised will be used to repay debt maturing in the first quarter of 2021.
Oversubscribed to over 3 times by investors, the bond issue was placed with leading long-term international investors, mainly based in France, Germany, Japan and the UK.
This new issue is part of Klépierre's financing strategy, which aims to ensure a high liquidity position while extending the average maturity of its debt, the cost of which (1.2% at end-June 2020) is set to decrease.
Note that the Klépierre share rocketed over 30% to close at exactly 15 euros on Monday.
Copyright (c) 2020 CercleFinance.com. All rights reserved.