By Paul A. Harris
Portland, Ore., Sept. 16 – Stockholm-based Akelius Residential Property AB priced a €300 million issue of 3 3/8% five-year senior notes (BB+) at a 300 basis points spread to mid-swaps on Wednesday, according to a market source.
The spread came at the tight end of the mid-swaps plus 300 to 312.5 bps spread talk.
The notes, which were priced on the investment-grade desk, came at a reoffer price of 99.787 to yield 3.422%
Joint bookrunner Barclays will bill and deliver. Danske Bank as also a joint bookrunner.
The issuer is a property investment and management firm.
| Issuer: | Akelius Residential Property AB
|
| Amount: | €300 million
|
| Maturity: | Sept. 23, 2020
|
| Securities: | Senior notes
|
| Bookrunners: | Barclays (bill and deliver), Danske Bank
|
| Coupon: | 3 3/8%
|
| Price: | 99.787
|
| Yield: | 3.422%
|
| Spread: | 300 bps over mid-swaps
|
| Trade date: | Sept. 16
|
| Settlement date: | Sept. 23
|
| Rating: | Standard & Poor's: BB+
|
| Distribution: | Regulation S
|
| Price talk: | Mid-swaps plus 300 to 312.5 bps
|
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