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Klépierre issues €500M of bonds

Klépierre placed a 15-year, €500 million bond due Dec. 13, 2032.

The company issued the notes at a price of 50 basis points above the swap rate, reflecting a coupon of 1.625%.

The issuance comes as the company launched a cash tender offer for four outstanding bonds, including a €500 million bond due September 2019, a €500 million bond maturing in February 2021, a €600 million bond due March 2021 and an €85 million bond due December 2022.

BNP Paribas, Crédit Agricole CIB, HSBC, ING, Mizuho International and Natwest Market were the joint book runners for the new issue, which was 2.4x oversubscribed.

Natixis, Natwest Market and Société Générale CIB are the dealer managers in the tender offer, which is set to expire Dec. 6.