By Cristal Cody
Tupelo, Miss., Sept. 11 – Aroundtown SA (BBB+) priced C$250 million of 4.625% notes due 2025 at 99.586 on Tuesday under the company’s euro medium-term note program, according to a news release.
Aroundtown said it is hedging the currency risk implied by the Canadian dollar denomination via a currency swap into euros for the period of the notes with interest fixed at 1.7% until 2023.
Proceeds from the deal will be used to fund Aroundtown’s growth strategy and or to refinance and repay existing debt.
Aroundtown is a commercial real estate property company based in Luxembourg.
| Issuer: | Aroundtown SA
|
| Amount: | C$250 million
|
| Description: | Notes
|
| Maturity: | 2025
|
| Coupon: | 4.625%
|
| Price: | 99.586
|
| Trade date: | Sept. 11
|
| Rating: | S&P: AAA
|
| Distribution: | Canada
|
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