Dutch property company Corio is to issue $1.21 bn of senior unsecured notes through a private placement to about 30 institutional investors. The senior notes will consist of four tranches with maturities of 7, 10, 12 and 15 years, with a weighted average maturity of about 11 years.
Dutch property company Corio is to issue $1.21 bn of senior unsecured notes through a private placement to about 30 institutional investors. The senior notes will consist of four tranches with maturities of 7, 10, 12 and 15 years, with a weighted average maturity of about 11 years.
The majority of the proceeds will be swapped into euros and used to refinance existing debt and finance projects currently under development. Closing is initially scheduled for March and May 2007, but it could be changed to meet customary closing conditions, Corio said.
