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Wereldhave N.V. — Capital/Financing Update 2015
Dec 15, 2015
3898_iss_2015-12-14_316a45be-bbc1-49c7-83c0-6f3dbb852b86.pdf
Capital/Financing Update
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PRESS RELEASE
Wereldhave successfully secures long term funding
Schiphol, December 14, 2015
Wereldhave N.V. successfully secures US Private Placement funding of EUR 86 million with a tenor of 10 years at all in cost of 2.9%.
Wereldhave N.V. ('Wereldhave') has reached agreement with US and UK institutional investors to issue US Private Placement Notes for a total amount of approximately EUR 86 million equivalent.
With this US Private Placement Wereldhave extends the maturity profile of its debt in a low interest rate environment. The transaction closed today.
The notes are denominated in US Dollars (70 million) and British Pounds (15 million) and have a tenor of 10 years.
The notes have been swapped into Euros at fixed interest rates, until maturity. The weighted average interest cost for Wereldhave is 2.9% (after currency and interest rate swaps).
Wereldhave has tapped the US private placement market successfully since 2011. Through this placement, Wereldhave was able to further diversify its investor base, in addition to receiving support from its existing lenders. The company is thankful to these investors for their continued support.
Barclays acted as sole agent in this transaction. Swaps were effectuated with ING and Barclays.
Information for the press: Information for analysts: Richard W. Beentjes Jaap-Jan Fit E [email protected] E [email protected] T + 31 20 702 78 32 T + 31 20 702 78 43
About Wereldhave
Wereldhave invests in dominant mid-sized shopping centres in larger provincial cities in northwest continental Europe. The catchment area of our centres should comprise of at least 100,000 inhabitants within 10 minutes travel time. We focus on shopping centres that have a sound balance between shopping convenience and experience. With easy accessibility, an offer that covers 90% of shopping needs, successful (inter-) national and local retail formulas and strong food anchors, our centres provide convenience shopping to accommodate an ageing population, ongoing urbanisation and a busy lifestyle. We aim for an entire experience that goes beyond shopping, with fully embedded food & beverage functions, kid's playgrounds and high quality amenities, to attract families and prolong average dwelling times. For more information: www.wereldhave.com