By Paul A. Harris
Portland, Ore., Sept. 26 – Aroundtown SA priced a $200 million add-on to its perpetual subordinated notes (BB+) at par to yield 5¼% on Tuesday, according to a market source.
The notes are non-callable until July 2023.
Morgan Stanley & Co. International plc and Goldman Sachs International managed the deal.
The Luxembourg-based real estate company plans to use the proceeds to fund its growth strategy and to repay debt.
| Issuer: | AT Securities BV (Aroundtown SA)
|
| Amount: | $200 million
|
| Maturity: | Perpetual
|
| Security description: | Add-on to perpetual subordinated notes
|
| Managers: | Morgan Stanley & Co. International plc, Goldman Sachs International
|
| Coupon: | 5¼%
|
| Price: | Par
|
| Yield: | 5¼%
|
| First call: | July 2023
|
| Trade date: | Sept. 26
|
| Rating: | S&P: BB+
|
| Original issue: | $500 million
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
