Klepierre gets tenders for €96.7 million of notes, Corio issues

By Susanna Moon

Chicago, Dec. 7 – Klepierre SA said investors had tendered €96.7 million of four series of notes in the offer that ran from Nov. 28 until Dec. 6.

The tender was held along with the placement of €500 million of 15-year bonds, which priced at 50 basis points above the swap rate for a coupon of 1.625%, according to a company update on Thursday.

As announced, the following issues were covered by the tender:

• Klepierre’s €309.9 million of outstanding (€500 million issued) 2.75% notes due Sept. 17, 2019;

• Corio NV’s €324,642,000 of outstanding (€500 million issued) 3.25% guaranteed notes due Feb. 26, 2021 and guaranteed by Bresta I BV, Corio Beleggingen I BV, Corio Management BV and Corio Nederland BV;

• Klepierre’s €600 million 4.75% notes due March 14, 2021 issued in six tranches; and

• Corio NV’s €85 million 3.516% guaranteed notes due Dec. 13, 2022 and guaranteed by Bresta I BV, Corio Beleggingen I BV, Corio Management BV and Corio Nederland BV.

Natixis, NatWest Markets and Societe Generale are the dealer managers.

Klepierre is a Paris-based real estate investment trust focused on shopping centers. Corio is a retail property management company.

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