Unibail-Rodamco has placed an eight-year bond maturing in February 2025 for a total amount of €500 mln.
The bond will offer a fixed coupon of 0.875%, the lowest ever coupon achieved by Unibail-Rodamco on the public bond market.
The group also simultaneously launched a tender offer on nine of its existing bonds maturing in June 2017, December 2017, August 2018, October 2018, March 2019, November 2020, February 2021, October 2022 and June 2023, respectively. The tender offer period is expected to end on November 22, 2016.
The transaction is part of the proactive management of Unibail-Rodamco's balance sheet, according to the company, which aims at extending the average maturity of its debt and optimising the cost of its debt.
