Unibail Rodamco, Europe's largest publicly-traded property group, has raised EUR 750 mln from the issue of a six-year bond maturing on August 1, 2018.
Unibail Rodamco, Europe's largest publicly-traded property group, has raised EUR 750 mln from the issue of a six-year bond maturing on August 1, 2018.
The bond will offer a fixed coupon of 2.25%. The issuance - Unibail-Rodamco's fourth in the past 10 months - was four times oversubscribed, with the order book reaching over EUR 3 bn in less than 90 minutes. 'This issuance confirms the confidence of bond investors in Unibail-Rodamco's credit profile,' the company said in a statement.
The net proceeds from the bond will strengthen the liquidity of the group, it added.
Unibail-Rodamco, which is rated A (stable outlook) by Standard & Poor's and FitchRatings, saw recurring profit rise 4.3% to EUR 453 mln in the first half of 2012, from EUR 435 mln a year before.
The Paris-based property owner reported higher-than-expected earnings per share of EUR 4.94, driven largely by strong rental income as well as a reduction in average funding costs.
