Amsterdam-listed retail property investor Vastned has issued a second long-term unsecured bond for a total amount of EUR 50 mln. The bond was placed with Pricoa Capital Group, a US institutional investor and issued in two equal tranches of EUR 25 mln, with maturities of seven and eight years. The coupons are priced at fixed rates of 4.88% and 5.06%.
Amsterdam-listed retail property investor Vastned has issued a second long-term unsecured bond for a total amount of EUR 50 mln. The bond was placed with Pricoa Capital Group, a US institutional investor and issued in two equal tranches of EUR 25 mln, with maturities of seven and eight years. The coupons are priced at fixed rates of 4.88% and 5.06%.
The bond, issued in recent days, was part of the company's strategy to diversify its funding sources. With this new bond, 14% of the loan portfolio is funded from alternative sources. The bond proceeds will primarily be used to redeem short-term bank debt.
