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Nexity completes €200M convertible bond placement

Nexity completed an offering of convertible bonds through a private placement for a nominal amount of roughly €200 million.

The nominal value of the bonds was set at €68.91 apiece, reflecting an issue premium of 30% over the company's Feb. 27 reference share price on the Euronext regulated market in Paris.

Net proceeds from the placement will be used for general corporate purposes, the French real estate developer said in a release.

The net share settled bonds due 2025 are convertible into new shares and/or exchangeable for existing shares.

The bonds, which hold interest at a yearly nominal rate of 0.25%, payable semiannually, will be issued at par March 2.