Klépierre: KLÉPIERRE PLACES A €600-MILLION 2031 BOND AT A 0.875% COUPON
09 Novembre 2020 - 6:13PM
Klépierre: KLÉPIERRE PLACES A €600-MILLION 2031 BOND AT
A 0.875% COUPON
PRESS RELEASE
KLÉPIERRE PLACES A €600-MILLION
2031 BOND AT A 0.875% COUPON
Paris, November 9, 2020
Klépierre, the European leader in shopping
malls, today announces the successful placement of a €600-million
bond maturing in February 2031 and paying a coupon of 0.875%. The
bond was priced at 110 basis points above the swap rate,
corresponding to a negative 5-basis-point new issue premium. The
bulk of the proceeds will be used to reimburse debt expiring in the
first quarter of 2021.
Subscribed more than three-times over, the notes
were placed with high-quality, long-term global investors, notably
from France, Germany, Japan and the United Kingdom.
This bond issue supports Klépierre’s financing
strategy aimed at securing a strong liquidity position, while
extending the average maturity of its debt. The Group’s liquidity
position now stands at €3.5 billion (revolving credit facility for
€2.3 billion, cash for €0.8 billion and bank overdrafts for €0.4
billion), fully covering refinancing needs until early 2023.
All other factors being equal, this bond issue
is expected to lead to a further reduction in the Group’s average
cost of debt (1.2% at June 30, 2020) while extending its
average maturity.
Barclays, Crédit Agricole CIB, Deutsche Bank,
HSBC, Natixis, Santander and Société Générale acted as joint
bookrunners for this issuance.
|
AGENDA |
|
| February
17, 2021 |
2020
full-year earnings |
| May 6,
2021 |
Annual General Meeting |
|
Investor relations contacts |
media contacts |
| Hubert
d’Aillières, Group Head of IR and financial communication +33
(0)1 40 67 51 37 — hubert.daillieres@klepierre.comMengxing
Zhang, IR Officer +33 (0)1 40 67 53 05 —
mengxing.zhang@klepierre.com Paul Logerot, IR Officer +33 (0)1
40 67 53 02 — paul.logerot@klepierre.com |
Hélène Salmon,
Group Head of Corporate & Internal Communications +33 (0)1
40 67 55 16 — helene.salmon@klepierre.com Delphine Granier,
Taddeo +33 (0)6 33 05 48 50 —
teamklepierre@taddeo.fr |
ABOUT KLÉPIERRE
Klépierre, the European leader in shopping
malls, combines development, property and asset management skills.
The company’s portfolio is valued at €22.8 billion at June 30,
2020 and comprises large shopping centers in 12 countries in
Continental Europe which together host 1.1 billion visits 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 is 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. 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
This press release is available on the Klépierre
website: www.klepierre.com
- PR_KLEPIERRE_bondissue_110920
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