IMMOBEL SA has announced that it has mandated BNP Paribas Fortis and Degroof Petercam as “Joint Lead Managers” to arrange a series of fixed income investor meetings; group lunch presentations will be organised in Brussels, Paris and Luxembourg, and a 5 - 7 year transaction for up to €100 million in one or multiple tranches may follow, subject to market conditions. The €100k denominated bonds will be listed on Alternext.
With the intention of launching a bond issue, IMMOBEL has confirmed its financial strategy and its commitment to pursue the development of its real estate portfolio in Belgium as well as abroad. The issue would allow the company to continue to develop a model oriented towards growth and optimisation of its assets to the benefit of all its shareholders. It will also allow to diversify its sources of finance, to extend the maturity of its debt and to decrease its average cost of debt.
IMMOBEL is the largest listed Belgian property developer. Since its foundation in 1863, the Group has developed and marketed innovative urban projects in response to the needs of cities and their inhabitants. Thanks to its bold strategy and a talented workforce of around a hundred people, IMMOBEL has succeeded in diversifying its expertise in the residential, office, retail and landbanking sectors and has successfully expanded internationally to the Grand Duchy of Luxembourg and Poland. Its portfolio now totals more than 850,000 m² under development and the Group has a market capitalisation of more than €550m, establishing its position as a market leader.
See www.immobel.be
