Rodamco Europe N.V., the largest publicly listed property investment and management company in the retail sector in Europe, successfully priced a €500 million five year fixed rate bond. ABN AMRO Bank N.V. and J.P. Morgan Securities Ltd. were mandated to lead manage this bond issue.
The bond offers a coupon of 4.125% and was sold to international institutional investors. The proceeds will be used to refinance existing short term debt and general corporate purposes.
CEO Maarten Hulshoff: ''Rodamco Europe reached a large group of quality investors. The orderbook was heavily oversubscribed which underlines Rodamco Europe's capacity to lock in at attractive rates. The bond issue is fully in line with our financial policy with an average debt maturity profile of five years or more and a total outstanding fixed rate debt of around 70%.''
Source: Rodamco Europe