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Klépierre closes cash tender offer for €1B bonds

Klépierre received €348.7 million worth of tenders forits cash tender offer that closed Sept. 26 for two bonds worth a combined €1billion.

The offer, launched Sept. 19, was for €500 million in 2.75%bonds due September 2019 and Corio NV's €500 million in 3.25% bonds due February 2021.

The nominal amount tendered reflects a take up rate of 34.9%.

The tender was launched simultaneously with the of the company's 15-year€600 million bonds with a 1.25% coupon. The placement was 3x oversubscribed.

JP Morgan Securities, The Royal Bank of Scotland and SociétéGénérale were the dealer managers for the tender offer.