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Klépierre to repurchase €1.32B of outstanding notes

Klépierre plans to launch a tender offer to repurchase a total of €1.32 billion worth of outstanding notes from four series of notes issued between 2011 and 2013.

The company is offering to repurchase €309.9 million worth of outstanding 2.75% notes due Sept. 17, 2019, from an original €500.0 million series issued Sept. 17, 2012; €600.0 million worth of outstanding 4.75% notes due March 14, 2021, from an issuance completed March 14, 2011; €324.6 million of outstanding 3.25% notes from a €500.0 million issuance by Corio NV completed Feb. 28, 2013; and €85.0 million in outstanding 3.516% notes maturing Dec. 13, 2022, issued by Corio NV on Dec. 13, 2012.

Klépierre merged with Corio NV in March 2015, in what would create a pure-play retail property company.

Separately, Klépierre plans to issue one or more series of new notes under its €7.00 billion euro medium-term note program, according to a release. The value of the planned issuances was not disclosed.