Listed Dutch investor Corio said on Tuesday it will not proceed with a planned Eurobond issue due to the current unfavourable market climate. The issue was aimed at generating proceeds for 'general corporate purposes', a spokeswoman for the company said.
Listed Dutch investor Corio said on Tuesday it will not proceed with a planned Eurobond issue due to the current unfavourable market climate. The issue was aimed at generating proceeds for 'general corporate purposes', a spokeswoman for the company said.
Corio was assigned a BBB+ rating by Standard & Poors in May and a Baa1 by Moody's in June, both with a stable outlook.
The company completed a EUR 600 mln equity issue at end-March to help pay for its EUR 1.3 bn purchase of operating shopping centres and mall projects from Multi Corporation. Corio said at the time that it would use EUR 450 mln of the net proceeds to finance the acquisition, with the remainder being used to finance in part existing and future pipeline projects and for general corporate purposes.
