Listed European property giant Unibail-Rodamco has launched a convertible bond issue for a nominal amount of around €500 mln.
Listed European property giant Unibail-Rodamco has launched a convertible bond issue for a nominal amount of around €500 mln.
The new Ornanes non-interest-bearing bonds will be issued at 100.5% of par value and mature on January 1, 2022. The par value represents a premium of between 27.5% and 35% over the company’s listed share price on the Euronext index.
The first bonds are being offered privately prior to a public offer in France between April 9 and April 13.
Unibail-Rodamco is also proposing a euro-denominated 10-year green bond, due in March 2025, and a euro-denominated 15-year bond due in April 2030, subject to market conditions.
The company said the transactions were aimed at extending the group's average debt maturity.
