LONDON: Aroundtown SA announced the placement of USD 600 million 5.375% fixed rate notes due 2029 under its Euro Medium Term Note (EMTN) Programme, at an issue price of 99.215% of the principal amount of the Notes was oversubscribed.
Aroundtown intends to use the amount raised by the Notes to fund Aroundtown’s growth strategy and/or re-finance and/or repay existing debt.
[the_ad id=”32940″]Aroundtown has hedged the currency risk implied by the USD denomination via across currency swap into EUR for the period of the Notes. Under the Swap, the effective coupon of the Notes will be fixed at 1.75% until 2023, and will be 2.65% plus six-month Euribor thereafter.
The Notes will be admitted to trading on the regulated market of the Irish Stock Exchange, trading as Euronext Dublin.
Aroundtown SA, trading on the Prime Standard of the Frankfurt Stock Exchange, is the largest listed and highest rated (BBB+ by S&P) German commercial real estate company. Aroundtown invests in income generating quality properties with value-add potential in central locations in top tier European cities mainly in Germany/NL.