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Icade Capital/Financing Update 2024
1424_iss_2024-05-14_5a1de53f-574b-4c54-8a7b-83c8c9ff8f96.pdf
Capital/Financing Update
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PRESS RELEASE Paris, May 14, 2024, 6:00 p.m.
ICADE LAUNCHES A CASH TENDER OFFER FOR THREE EXISTING SERIES OF NOTES
Icade announces today the launch of a cash tender offer to purchase 3 existing series of Notes:
- €500 million notes maturing on 17 November 2025, with a 1.125% coupon (ISIN: FR0013218393) of which €500 million are currently outstanding;
- €750 million notes maturing on 10 June 2026, with a 1.75% coupon (ISIN: FR0013181906) of which €750 million are currently outstanding; and
- €600 million notes maturing on 13 September 2027, with a 1.5% coupon (ISIN: FR0013281755) of which €600 million are currently outstanding.
Icade has announced its intention to purchase the 2025 series and 2026 series as Priority 1 and the 2027 series as Priority 2. Icade has set the indicative maximum amount of the tender at €350 million. The end of the tender offer is scheduled for 22 May 2024.
HSBC Continental Europe and Société Générale are acting as bookrunners for the tender offer.
As indicated at the time of the announcement of its ReShapE strategic plan in February 2024, Icade will finance the purchase of the notes with part of the proceeds received in 2023 from the first step of the disposal of the Healthcare activities, and therefore proactively manages its debt maturity profile.
ABOUT ICADE
Icade is a full-service real estate company with expertise in both commercial property investment (portfolio worth €6.8bn on a full consolidation basis as of 12/31/2023) and property development (2023 economic revenue of €1.3bn) that operates throughout France. Icade has forged long-term partnerships to respond to emerging trends in the industry. It has made climate issues and the preservation of biodiversity central to its business model to reinvent real estate and contribute to more sustainable cities. It is listed as a "SIIC" on Euronext Paris and its leading shareholder is the Caisse des Dépôts group.
The text of this press release is available on the Icade website: www.icade.fr/en
| CONTACTS | ||
|---|---|---|
| Anne-Violette Faugeras | Marylou Ravix | |
| Head of Finance and Investor Relations | External Communication Manager | |
| +33(0)7 88 12 28 38 | +33 (0)7 88 30 88 51 | |
| [email protected] | [email protected] |