Unibail-Rodamco-Westfield (URW) announced it has successfully priced a €2 Bn two-tranche senior bond offering, strengthening its liquidity position and extending the Group’s debt maturity:
- A €1 Bn bond with a 6 year and 5 months maturity and a 0.625% fixed coupon; and
- A €1 Bn bond with an 11-year maturity and a 1.375% fixed coupon.
This successful issuance was more than three times oversubscribed, attracting over €6.5 Bn of demand.
As announced earlier today, the Group has also launched a simultaneous tender offer for an aggregate principal amount of up to €1 Bn across five outstanding bonds, which have a total principal amount of €2.8 Bn and maturity dates ranging from February 2021 to February 2024. The tender offer results will be announced on December 2, 2020.
The net proceeds from this issuance will be used for general corporate purposes, including the funding of the concurrent tender offer and the refinancing of upcoming bond maturities.
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