Italian REIT Beni Stabili has announced plans to issue a €300 mln unsecured bond with a 10-year maturity.
The offering, which is dedicated to institutional investors, is part of the company's plans to improve its debt profile, with the proceeds planned to be used to refinance existing debt including an earlier €250 mln bond at a cost of 3.5%.
The final terms of the offering will be determined on the basis of market conditions at the time of pricing, according to Beni Stabili, the Italian arm of French listed property giant Foncière des Régions.
Morgan Stanley and Natixis have been appointed joint lead managers of the transaction.
