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Prado Shopping Center, Credit: Klépierre

Klépierre places €600 million 9-year bond at a 2.0% coupon

Klépierre announced that, it successfully placed a €600-million bond maturing on May 12, 2029 with a 2.0% coupon.

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.