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Klépierre — Capital/Financing Update 2017
Nov 28, 2017
1464_iss_2017-11-28_88d4f82f-8cb8-428a-9bea-973feb4b8298.pdf
Capital/Financing Update
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KLÉPIERRE SUCCESSFULLY PLACE S 1 5 - YEAR € 500 MILLION BOND AT A 1 . 625 % COUPON
Paris − November 2 8 , 2017
Klépierre, the leading pure player in shopping mall property in Europe, announces that it successfully issued today a 15-year, €500 million bond maturing December 13, 2032. The bond was priced at 50 basis points above the swap rate, the tightest spread ever for a European REIT for a 15-year maturity or longer. It translates into a coupon of 1.625%.
Oversubscribed 2.4 times, the notes were placed with high-quality, long-term global investors, notably from Germany (41% of the allocated book), France (33%) and the UK (18%).
BNP Paribas, Crédit Agricole CIB, HSBC, ING, Mizuho International and Natwest Market acted as jointbookrunners for the new issue.
Also today, Klépierre launched a cash tender offer for four outstanding bonds:
- A €500 million bond (of which €309.9 million currently outstanding) issued by Klépierre SA, maturing in September 2019 and offering a 2.75% coupon (FR0011321405);
- A €500 million bond (of which €324.6 million currently outstanding) issued by Corio N.V., maturing in February 2021 and offering a 3.25% coupon (XS0896119384);
- A €600 million bond issued by Klépierre SA, maturing in March 2021 and offering a 4.75% coupon (FR0011019397);
- An €85 million bond issued by Corio N.V., maturing in December 2022 and offering a 3.516% coupon (XS0864386825).
The offer period for the tendered bonds is expected to end on December 6, 2017. Natixis, Natwest Market and Société Générale CIB are acting as dealer managers in the tender offer.
These transactions support Klépierre'sfinancing strategy, which aims to reduce financing costs while extending the average maturity of its debt.
AGENDA
February 7, 2018 April 24, 2018 Full-year 2017 earnings (press release after market close) General meeting
INVESTOR RELATIONS C ONTACTS MEDIA CONTACTS
Hubert d'AILLIÈRES +33 (0)1 40 67 51 37 – [email protected] Mengxing ZHANG +33 (0)1 40 67 53 05 – [email protected]
Lorie LICHTLEN / Stephanie LASNEL, Burson-Marsteller i&e +33 (0)1 56 03 12 12 – [email protected]
ABOUT KLÉPIERRE
The leading pure play shopping center property company in Europe, Klépierre combines development, property and asset management skills. The company's portfolio is valued at €23.3 billion at June 30, 2017 and comprises large shopping centers in 16 countries in Continental Europe which together host 1.1 billion visitors per year. Klépierre holds a controlling stake in Steen & Strøm (56.1%), Scandinavia's number one shopping center owner and manager. Klépierre is a French REIT (SIIC) listed on Euronext Paris and included in the CAC Next 20, EPRA Euro Zone and GPR 250 indexes. It is also included in ethical indexes, such as DJSI World and Europe, FTSE4Good, STOXX® Global ESG Leaders, Euronext Vigeo France 20 and World 120, and figures in CDP's "A-list". These distinctions underscore the Group's commitment to a proactive sustainable development policy and its global leadership in the fight against climate change.
For more information: www.klepierre.com
This press release is on the Klépierre website: www.klepierre.com