Corio N.V. is in the process of finalizing the issuance of USD 1,210 million of senior unsecured notes through a private placement to approximately 30 (institutional) investors.
The senior notes will consist of four tranches with maturities of 7, 10, 12 and 15 years, with a weighted average maturity of approximately 11 years. The proceeds will predominantly be swapped into euros. Corio will use the net proceeds from the private placement to refinance parts of its existing debt and to finance projects currently in the pipeline. Closing is due to happen in March and May 2007. The closing is subject to meeting customary closing conditions.
The original issue size of USD 400 million was increased to USD 1,210 million in response to the very strong demand.