The bond was priced at 230 basis points above the swap rate, corresponding to a 5-basis-point new issue premium. Subscribed 5 times, the notes were placed with high-quality, long-term global investors, notably from France, Germany, Japan and the UK.
This new bond issue supports Klépierre’s financing strategy, which aims to secure a strong liquidity position, while extending the average maturity of its debt. Following this issue, the Group’s liquidity (in euro) will stand at €2.8 billion. Barclays, BNP Paribas, Crédit Agricole CIB, JP Morgan, Natixis and NatWest Markets acted as joint bookrunners for the new issue.