Aroundtown places €558,1m 3% notes (DE)

Aroundtown places €558,1m 3% notes (DE)

Aroundtown SA has announced the successful placement of €558,1m (£500m) of 3% fixed rate 12 years notes due 2029 under Aroundtown’s Euro Medium Term Note Programme, at an issue price of 97% of the principal amount of the Notes.

 

Aroundtown will hedge the currency risk of the Notes via a cross currency swap of GBP into EUR, resulting in the principal of the Notes being linked to EUR for the entire life of the Notes until 2029, with expected fixed EUR coupon of 1.5% until 2022 and 6 months Euribor + 1.2% thereafter.

 

The Notes will be admitted to trading on the regulated market of the Irish Stock Exchange.

 

Aroundtown intends to use the amount raised by the Notes to fund Aroundtown's growth strategy and to refinance and/or repay existing debt.

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