Dutch listed property company Wereldhave has announced an offering of new convertible bonds which will be used to repurchase outstanding convertible bonds due in 2015.
Dutch listed property company Wereldhave has announced an offering of new convertible bonds which will be used to repurchase outstanding convertible bonds due in 2015.
The new bonds will be issued at par in a nominal amount of €100,000 per bond, with a maturity of five years, and will pay a fixed coupon within the range from 0.875% to 1.375% per annum, payable semi-annually in arrear.
The new bonds will be offered to institutional investors only. ABN Amro/ UBS and Barclays are acting as joint global coordinators and bookrunners for the placement.
Wereldhave is targeting an initial principal amount from the new offering of €200 mln, which may be increased to €220 mln.
The proceeds will be used to repurchase €230 mln in outstanding bonds due in 2015.
