By Paul A. Harris
Portland, Ore., Dec. 15 - Belgian property developer Immobel has priced €30 million of senior notes due in 2016 at par to yield 7%, according to a press release issued by the company on Thursday.
BNP Paribas Fortis ran the books.
The notes were privately placed with institutional investors.
Proceeds will be used for the acquisition and the development of new projects.
"The completed transaction allows us to increase our financial means in order to sustain our strategy of growth and diversification [with] acquisitions both in Central Europe and Belux," Gaetan Piret, Immobel's managing director, commented in the Thursday release.
Immobel is based in Brussels.
| Issuer: | Immobel
|
| Amount: | €30 million
|
| Maturity: | 2016
|
| Securities: | Senior notes
|
| Bookrunner: | BNP Paribas Fortis
|
| Coupon: | 7%
|
| Price: | Par
|
| Yield: | 7%
|
| Distribution: | Private placement
|
| Listing: | Brussels Stock Exchange
|
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