French listed office giant Foncière des Régions has announced the issue of a € 500 mln seven-year bond, representing its first debt offering this year.
French listed office giant Foncière des Régions has announced the issue of a € 500 mln seven-year bond, representing its first debt offering this year.
FdR has priced the bond maturing in September 2021 at 1.75 % coupon reflecting a margin of 105 bps above the swap rate.
In a statement, the Paris-listed REIT said that the issue will enable it to 'pursue its strategy of financing diversification, reduction of the cost of its debtand extension of its maturity'.
The operation follows the issue in November last year of a €300 mln convertible bond with an interest from the issue date at an annual nominal rate between 0.875% and 1.625% payable semi-annually.
The issue was led and managed by BofA Merrill Lynch, Crédit Agricole Corporate and Investment Bank, with HSBC and Natixis acting as joint lead managers and joint bookrunners.
