CEE investor Atrium Europe Real Estate has placed a €350 mln bond in its first unsecured issue.
CEE investor Atrium Europe Real Estate has placed a €350 mln bond in its first unsecured issue.
The Vienna and Amsterdam-listed retail property company said the issue was placed with a broad range of institutional debt investors. The proceeds will be used to refinance existing secured credit lines and for acquisitions 'as and when identified'.
The operation was completed on 19 April. The order book for the issue was over €1.3 bn, meaning it was 3.7 times oversubscribed.
The bonds mature in April 2020 and bear a fixed coupon of 4.00% per annum. The issue price was 99.569%.
Both Standard & Poors and Fitch have assigned a BBB- investment grade credit rating to the bond, in line with Atrium’s own corporate rating.
Atrium Europe Real Estate owns and manages 156 properties in Central and Eastern Europe with a total market value of €2.2 bn.
