Klepierre to exercise early redemption option for bond due in May

By Mary-Katherine Stinson

Lexington, Ky., Feb. 10 – Klepierre SA will exercise the residual maturity call option on its €100 million 1.1% bond due May 25, 2022 (ISIN: FR0013514213), according to a press release.

The bond will be redeemed Feb. 25 at par plus interest from the previous payment date up to the early redemption date, which equals €831,780.

The residual maturity call option allows for redemption at par for all outstanding notes three months prior to their initial maturity date.

The company said the early bond repayment optimizes Klepierre’s liquidity position following recent disposals closed in December.

Societe Generale Securities Services is the paying agent.

Klepierre is a Paris-based real estate investment trust focused on shopping centers.

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