Amsterdam-listed retail property specialist Corio has placed a €500 mln Eurobond, just days after Unibail-Rodamco, Europe's largest listed real estate company, tapped the bond markets for €750 mln.
Amsterdam-listed retail property specialist Corio has placed a €500 mln Eurobond, just days after Unibail-Rodamco, Europe's largest listed real estate company, tapped the bond markets for €750 mln.
Corio said its bond issue came following a three-day road show in Europe.
The € 500 mln benchmark Eurobond matures in February 2021. The 8-year bonds have a 3.25% coupon and the issue price is 99.945%. The settlement date has been set at 28 February 2013. The bonds were issued under Corio's EMTN program and placed with a broad range of institutional investors, primarily from Europe.
The net proceeds of the issue of the bonds will be used for general corporate purposes.
Bank of America Merrill Lynch, Deutsche Bank and RBS acted as joint lead managers for this issue. The bonds will be listed on NYSE Euronext in Amsterdam.
Corio has a BBB+ rating from Standard & Poor's and a Baa1 from Moody's.
Unibail-Rodamco's €750 mln, eight-year bond matures in February 2021 and offers a fixed coupon of 2.375%. The placement was 2.5 times oversubscribed, with the order book reaching over €1.9 bn.
