Akelius selects banks, sets roadshow for €500 million hybrid bond

By Rebecca Melvin

New York, Jan. 31 – Stockholm-based Akelius Residential Property AB has mandated banks and scheduled fixed-income investor meetings for a proposed €500 million offering of hybrid bonds, according to a market source on Friday.

The 61.25-year Regulation S bearer transaction is non-callable for 6.25 years.

Barclays is structuring adviser and joint bookrunner, together with BNP Paribas and Danske Bank as joint bookrunners.

Roadshow meetings will be held across Europe beginning on Monday.

The proceeds will be used for general corporate purposes, including investments, acquisitions and development projects, and the repayment of some of the group’s existing debt.

The issuer owns and manages residential properties.

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