Italian REIT IGD SIIQ is to carry out out a private placement of senior unsecured notes for an aggregate principal amount of €150 mln.
Italian REIT IGD SIIQ is to carry out out a private placement of senior unsecured notes for an aggregate principal amount of €150 mln.
The notes will mature in January 2019, with a fixed coupon of 3.875% per annum.
The issue and settlement date is expected to be 7 May 2014. On or about the issue date, the notes will be listed and admitted to trading on the Italian Stock Exchange.
The net proceeds from the issue will be used to partially refinance existing debt, as well as to pursue general corporate purposes, including the financing of new investments.
Morgan Stanley will act as the sole underwriter.
'This transaction confirms the strong interest that foreign counterparties have in Italian real estate,' said Claudio Albertini, CEO of IGD Siiq.
