Cofinimmo has announced the results of the priority allocation of its convertible bond offering.
The Belgian property investor had earlier announced intentions to offer up to about €220 mln in bonds, plus the repurchase of its outstanding €190.8 mln 2% convertible bonds due 2018.
The 1.5 million of bonds, at a subscription price of €146 per bond, were initially offered and provisionally allotted (subject to clawback) only to institutional investors following an accelerated bookbuilding on 6 September, before being offered to existing institutional and Belgian retail shareholders via a three-day priority subscription period.
Shareholders representing 2.26% of Cofinimmo’s capital (i.e. 474,684 shares) used their priority allocation rights to participate in the offering, being allotted 33,906 bonds.
The total bond offering amounts to €219.3 mln.
HSBC and J.P. Morgan are acting as joint global coordinators and joint bookrunners for the offering.
Société Générale Corporate & Investment Banking is acting as joint bookrunner for the offering. KBC Bank NV is acting as co-manager. for the Offering.
The deal comes after Buwog, the Austro-German residential property company, added to the recent reemergence of convertible bond issuance with the sale of a €300 mln allocation last week.
