MERLIN Properties successfully issues € 600 million 8-year unsecured bonds

MERLIN Properties Socimi, S.A., (MC:MRL), the largest real estate company listed on the Spanish Stock Exchange, specialising in the acquisition and management of commercial real estate assets in the Iberian region, has announced today the issuance of unsubordinated ordinary bonds in the Euromarket (the “Notes”) for an aggregate principal amount of 600 million Euros (the “Issue”).

The Notes have been issued with a maturity of 8 years, at an issue price of 99.417% of nominal value, and an annual coupon of 1.75% (midswap + 125 bps). Subscription and payment for the Notes is expected on 26 May 2017.

The terms and conditions of the Bonds, as well as their representation, are subject to English law. In addition, it is expected that the Bonds are admitted to listing on the Luxembourg Stock Exchange.

The overall proceeds will be mainly devoted to early repay debt, as well as for general corporate purposes.

HR bond issuance