Europe's largest listed real estate company Unibail-Rodamco plans to raise around €500 mln from a new convertible bond issue.

Europe's largest listed real estate company Unibail-Rodamco plans to raise around €500 mln from a new convertible bond issue.

The proceeds will be used to address the company’s general financing needs, including its existing and future development and acquisition projects.

The bonds will be redeemed at par on 1 July 2021. They will not bear interest.

The issue is being managed by BNP Paribas, BofA Merrill Lynch, Crédit Agricole CIB and Deutsche Bank acting as global coördinators, lead managers and bookrunners and by Barclays, HSBC, J.P. Morgan, Morgan Stanley, Société Générale Corporate & Investment Banking, The Royal Bank of Scotland and UBS Investment Bank as joint lead managers and joint bookrunners.