Covivio: E500m bond issue
(CercleFinance.com) - On Wednesday, real estate group Covivio (formerly Foncière des Régions) successfully placed a 500 million euro bond issue, maturing in 2030, with a fixed coupon of 1.
625%. The issue was oversubscribed to nearly 5 times.
This bond issue, which is to refinance part of its existing debt, hence strengthens its balance sheet by lengthening the maturity of its debt (by 6.1 years at end-2019), while improving its profile, Covivio said.
"This transaction, which refinances part of its existing debt, strengthens the strength of the balance sheet by extending the maturity of the debt (from 6.1 years to the end of 2019) and by improving its profile," the group says.
The bonds' settlement and delivery and admission to trading on Euronext Paris are scheduled for Tuesday 23 June 2020.
Copyright (c) 2020 CercleFinance.com. All rights reserved.
625%. The issue was oversubscribed to nearly 5 times.
This bond issue, which is to refinance part of its existing debt, hence strengthens its balance sheet by lengthening the maturity of its debt (by 6.1 years at end-2019), while improving its profile, Covivio said.
"This transaction, which refinances part of its existing debt, strengthens the strength of the balance sheet by extending the maturity of the debt (from 6.1 years to the end of 2019) and by improving its profile," the group says.
The bonds' settlement and delivery and admission to trading on Euronext Paris are scheduled for Tuesday 23 June 2020.
Copyright (c) 2020 CercleFinance.com. All rights reserved.