Banimmo successfully places €75 million bonds with warrants, closes subscription period early (BE)

Due to the strong demand created by its public offering of a 5 year bond with warrants, Banimmo announced that the maximum amount of €75 million was fully placed. The subscription period has therefore been closed early, on 4 May 2010. The payment date of the bonds with warrants is set at 12 May 2010.

Both bonds as warrants will be listed on Euronext Brussels. The net proceeds of the offering will be allocated to the implementation of the acquisition policy of Banimmo. Currently Banimmo analyzes different investment projects, both in France and in Belgium, in order to increase its real estate portfolio above €400 million. After the offering, Banimmo will on its own initiative decrease the syndicated credit ceiling from € 190 millions to €170 millions.

For this placement ING and Peterman have acted as joint-lead managers, KBC and Bank Degroof acted as co-lead managers.

Source: Banimmo

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