€600 MILLION 11-YEAR BOND
AT A 0.625% COUPON
Paris – 24 June 2019
Klépierre, the pan-European leader in shopping malls, announces that it successfully placed today a €600-million bond maturing on 1 July 2030 with a 0.625% coupon. The bond was priced at 45 basis points above the swap rate, which corresponds to a negative new issue premium() and is the tightest spread ever for a European REIT for an 11-year maturity.
Subscribed 2.8 times, the notes were placed with high-quality, long-term global investors, notably from France, Germany, Japan and the UK.
The net proceeds will be used to reimburse debt falling due in 2019 and 2020.
This new bond issue supports Klépierre’s financing strategy, which aims to secure high liquidity position, and reduce financing costs while extending the average maturity of its debt.
BNP Paribas, Natixis (B&D), NatWest Market, Santander, Société Générale and SMBC Nikko acted as joint bookrunners for the new issue.
Klépierre, the pan-European leader in shopping malls, combines development, property and asset management skills. The company’s portfolio is valued at €24.4 billion at December 31, 2018 and comprises large shopping centers in 16 countries in Continental Europe which together host 1.1 billion visitors per year. Klépierre holds a controlling stake in Steen & Strøm (56.1%), Scandinavia’s number one shopping center owner and manager. Klépierre is a French REIT (SIIC) listed on Euronext Paris and included in the CAC Next 20, EPRA Euro Zone and GPR 250 indexes. It is also included in ethical indexes, such as DJSI World and Europe, FTSE4Good, STOXX® Global ESG Leaders, Euronext Vigeo France 20 and World 120, and figures in CDP’s “A-list”. These distinctions underscore the Group’s commitment to a proactive sustainable development policy and its global leadership in the fight against climate change.
For more information, please visit the newsroom on our website: www.klepierre.com
|July 10, 2019||Final Dividend Payment|
|July 24, 2019||2019 First-Half Earnings (after market close)|
|Hubert d’AILLIÈRES |
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() I.e. a lower spread than the interpolated spread on the secondary market for this duration.