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Klepierre receives tenders for €208 million of Corio’s 4.625% bonds
By Susanna Moon
Chicago, April 17 – Klepierre SA said investors tendered €208 million, or 41.6%, of the €500 million 4.625% bonds due January 2018 issued by Corio NV.
The tender offer ended April 16 and was being made after Klepierre completed its merger with Corio March 31. The offer began April 8.
As previously announced, Klepierre priced €750 million of eight-year bonds at 65 basis points over the swap rate, for a coupon of 1%.
The company previously said the tender offer and new issue were aimed at optimizing the debt profile of the group while reducing its cost of funding.
Klepierre is a Paris-based real estate investment trust focused on shopping centers. Corio is a retail property management company based in Utrecht, the Netherlands.
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