German residential landlord TAG Immobilien has carried out its first bond issuance with the placement of a €200 mln, five-year corporate bond at a coupon of 5.125%.
German residential landlord TAG Immobilien has carried out its first bond issuance with the placement of a €200 mln, five-year corporate bond at a coupon of 5.125%.
In a statement, the company said the placement was 'significantly oversubscribed'.
Proceeds will be used to repurchase three outstanding convertible bonds, expiring in May 2015 (outstanding amount €30 mln, 6.375% coupon), December 2015 (€67 mln, 6.50%) and June 2019 (€85 mln, 5.50%).
Credit Suisse Securities (Europe) and Close Brothers Seydler acted as joint bookrunners in the transaction.
