Unibail-Rodamco launched a convertible bond issue valued at EUR 750 mln on Tuesday. Europe's largest listed real estate company said proceeds will be used to 'address its general financing needs', including existing and future development projects, and to diversify its funding sources.
Unibail-Rodamco launched a convertible bond issue valued at EUR 750 mln on Tuesday. Europe's largest listed real estate company said proceeds will be used to 'address its general financing needs', including existing and future development projects, and to diversify its funding sources.
The nominal value per bond has been set at EUR 217.28, representing a premium of 35% on Unibail-Rodamco's reference share price on NYSE Euronext in Paris. The issue consists of 3-4 million bonds.
The bonds will bear interest of 0.75%, payable annually in arrears on 1 January. The issue and settlement date of the bonds is expected to occur on 19 September 2012.
The issue is being managed by HSBC, Morgan Stanley and Société Générale Corporate & Investment Banking, acting as global coordinators, joint lead managers and joint bookrunners.
