Italian REIT Immobiliare Grande Distribuzione SIIQ has announced plans to issue one or more unsecured and non-convertible bonds for a maximum total amount of €400 mln.
The seven-year bond, reserved for qualified investors, will be issued by March 31 2017, after the company has received a public rating from an international rating agency.
IGD, which owns roughly €2 bn of retail properties in Italy, said that the issue will partly be used to refinance existing debt, as well as for general corporate purposes, including financing new investments.
