Societe Fonciere Lyonnaise buys back €300 million bonds via tender offer proceeds, new bond issue

By Toni Weeks

San Luis Obispo, Calif., Dec. 1 – Societe Fonciere Lyonnaise said it will repurchase €300 million of its bonds with the proceeds of a tender offer.

The company will buy back €200 million of its 2016 bonds and €100 million of its 2017 bonds, “in line with its initial target,” according to a Nov. 28 company notice.

The tender offer, launched on Nov. 20, for two public bonds maturing in May 2016 and November 2017, expired on Nov. 27.

In conjunction with the tender offer, the company also issued a €500 million seven-year bond on Nov. 20, which enables it to “significantly” extend the average maturity of its debt and reduce its average future cost, the notice said.

The real estate company focuses on properties in the Central Business District of Paris.

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