German REIT Alstria Office has announced the issue of an unsecured, fixed rate corporate bond with a nominal value of €350 mln and a 10-year maturity.
The company said it will announce the final conditions of the bond, in particular the interest rate and the issue price, following the conclusion of the bookbuilding.
The bond is expected to receive a rating of ‘BBB’ from Standard & Poor’s for the bond, which will be issued on or around November 8, 2017.
As part of the operation, which is aimed at optimising the company's debt profile, Alstria is inviting holders of its existing €500 mln 2.250% bond due 2021 and €500 mln 2.125% bond due 2023 to tender the notes for purchase by Alstria, which plans to accept them for a total amount of up to €350 mln.
On Tuesday, Stockholm-listed Akelius Residential Property announced an oversubscribed issue of €500 mln in senior unsecured bonds,
BNP Paribas and Danske Bank were financial advisors, Clifford Chance legal advisor. The order book amounted to €1.8 bn.
The bonds mature in March 2024 and have an annual coupon of 1.125% percent. They will be listed on the Irish Stock Exchange.
