German REIT Alstria Office has raised just over 鈧�79 mln in a corporate bond issue.
German REIT Alstria Office has raised just over 鈧�79 mln in a corporate bond issue.
The Hamburg-based company said that the issuance was multiple times oversubscribed. The proceeds will be used to refinance existing debt and general corporate purposes.
The bonds have a maturity of five years and will be redeemed at 100% of their principal amount. The coupon was set at 2.75% per annum, payable quarterly in arrears. The initial conversion price was set at 鈧�10.0710, representing a conversion premium of 15% above the reference share price of 鈧� 8.7574. Settlement for the convertible bonds is expected to take place on or around 14 June 2013.
The placement volume will be convertible into almost 8 million no-par value ordinary bearer shares, representing just under 10% of Alstria's outstanding shares.
BofA Merrill Lynch and J.P. Morgan acted as joint bookrunners and UniCredit Bank acted as co-bookrunner.
