Europe's largest listed real estate company Unibail-Rodamco has successfully placed a €600 mln, 12-year bond with a fixed coupon of 2.50% to strengthen its liquidity.
Europe's largest listed real estate company Unibail-Rodamco has successfully placed a €600 mln, 12-year bond with a fixed coupon of 2.50% to strengthen its liquidity.
The bond maturing in June 2026 was approximately twice oversubscribed. It is the group's first public issuance for this maturity, the company said in a statement.
Since the onset of the global financial crisis, Unbail-Rodamco has repeatedly tapped the capital markets in a bid to diversify its funding base and reduce its dependence on traditional bank lenders. The low coupon for this maturity indicates the company's popularity with bond investors and its ability to obtain capital at a relatively low price.
Unibail-Rodamco has an A rating from both Standard & Poor's and FitchRatings.
