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TLG IMMOBILIEN places €400M corporate bond

TLG IMMOBILIEN AG placed unsecured, fixed-rate stand-alone notes due Nov. 27, 2024, with a €400 million nominal amount.

The company is offering the notes, which bear interest at 1.375% per year, at an issue price of 99.735% with a total annual yield of 1.415%. It plans to list the notes on the Luxembourg Stock Exchange.

The company aims to use the net proceeds to refinance roughly €300 million in certain land-charge secured loans, for future purchases and for general business purposes.

Deutsche Bank and J.P. Morgan were the joint book runners. VictoriaPartners was TLG's independent financial adviser.