Belgian office and healthcare investor Cofinimmo has successfully closed the private placement of a 10-year bond for a nominal amount of €70 mln.
The bond was offered at a fixed coupon of 1.70% and was placed by BNP Paribas with a European institutional investor.
Cofinimmo said that the bond issue allowed the company to extend its average debt maturity and to optimise its average cost.
The investor, which focuses on properties in Belgium, France, the Netherlands and Germany, had a portfolio worth €3.2 bn and a total market capitalisation of €2.2 bn as of 30 June 2016.
Its average debt maturity was 4.6 years with an average cost of 2.7% in Cofinimmo's half year results.
