Listed Belgian real estate company Cofinimmo has confirmed placement of a EUR 173.3 mln convertible bond offering. The bonds, convertible into ordinary shares, are due on 28 April 2016.
Listed Belgian real estate company Cofinimmo has confirmed placement of a EUR 173.3 mln convertible bond offering. The bonds, convertible into ordinary shares, are due on 28 April 2016.
The net proceeds will be used by Cofinimmo as part of a broader plan to fund capital expenditure, diversify its sources of funding by refinancing existing or maturing credit lines and for general corporate purposes.
Cofinimmo said that it was decided to increase the targeted base amount from EUR 150 mln to EUR 173.3 mln by exercising the extension option.
The convertible bonds will have a maturity of five years. The coupon was set at 3.125% payable annually in arrear.
