Rodamco Europe obtains a single-A rating with stable outlook by S&P

Rodamco Europe announces it has obtained a single A rating with stable outlook (A/stable/A-1) by Standard & Poor’s. The rating endorses Rodamco Europe’s leading position in the retail property sector in Europe, its successful strategic focus on top quality shopping centres in dominant locations across a number of key European cities and its strong balance sheet.

CEO Maarten Hulshoff: 'We are pleased and proud to have obtained this single A rating, which will make Rodamco Europe the benchmark in the European property sector. The rating is a logical step in our financing strategy which includes the diversification of our funding sources and it will allow Rodamco Europe to enter the international capital markets through a bond issue.”

Rodamco Europe has mandated ABN Amro, JP Morgan and UBS Warburg to act as bookrunners for its debut benchmark Eurobond transaction. The bond issue will be launched and priced, subject to market conditions, following a pan-European roadshow to be held in the week starting June 9th, and is expected to amount to EUR 500 million. The notes are expected to be listed on the Luxembourg Stock Exchange.

The purpose of the bond issue is to further enhance Rodamco Europe’s capital structure, refinancing short term debt to further increase the maturity profile of its outstanding debt as well as the interest rate maturity.
Additionally, this bond issue will free up committed standby facilities for the expected future funding needs.

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