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Unibail-Rodamco-Westfield Places Major Bong Offering

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Unibail-Rodamco-Westfield recently revealed the successful placement of along 12-year €750-million bond offering. The offering matures on March 29, 2032, with a 0.875% fixed coupon.

According to a prepared release, as a result of strong demand, URW upsized the issuance from an announced €500 million to €750 million. The net proceeds from this issuance, the REIT says, will be used for general corporate purposes and will further extend URW’s debt maturity profile at attractive conditions.

During the second quarter, Despite a somewhat challenging retail environment, firm CEO, Christophe Cuvillier, said the firm made great progress in delivering its strategy of concentration, differentiation and innovation. “We are starting to see the positive impact of the Westfield transaction,” he said on the firm’s Q2 earnings call.

The REIT Wire will follow what happens on the Q3 earnings call and report back on where things stand. The company has been operating as one group, Unibail-Rodamco-Westfield from the completion of Westfield acquisition on June 7, 2018.