World’s Leading Shopping Center Company, Scentre Group Seeks Euro Medium Term Notes

images (5)

Medium Term Notes blog update is courtesy of the Australian Business Review. One of the world’s leading shopping center companies, Scentre Group, announced it is seeking $778 million in euro medium term notes.

Scentre Group is raising £400 million ($778 million) under its euro medium term note (EMTN) programme. The issue comprises of seven-year fixed-rate guaranteed notes with a coupon of 2.375 percent.

The proceeds of the issue will be used to repay borrowings under the company’s revolving bank facilities.

Australian companies, looking to cut dependence on bank loans, have turned to the European debt market in a big way over the past year, as they take advantage of historically low interest rates to implement long-pending growth plans. Other issuers in the Euro market include the Big Four banks, Transurban and Sydney airport.

Scentre (SCG)was spun off from mega mall owner Westfield Group last year by merging the Australian and New Zealand assets of the group with Westfield Retail Trust. It raised nearly more than $3 billion from the European debt markets last year to repay its bridge loan facility.


facebooktwitterpinterestlinkedinmailby feather

Swedish Company’s Euro Medium Term Note Raises 600M €


Medium Term Notes blog update courtesy of Business Wire.

Svenska Cellulosa Aktiebolaget, SCA (STO:SCAA)(STO:SCAB), has today, under its Euro Medium Term Note (EMTN) program, raised EUR 600m, of which EUR 300m has a tenor of five years and EUR 300m has a tenor of ten years. The Re-offer yield for the five-year bond is 0.54% per year, corresponding to Euro Mid-swaps +0.28 percentage points. The Re-offer yield for the ten-year bond is 1.15% per year, corresponding to Euro Mid-swaps +0.5 percentage points.

The bond issues were oversubscribed and the bonds were subsequently placed with 107 international investors.

The bonds will be listed on the Luxembourg Stock Exchange. The purpose of the transactions is to refinance maturing loans.

About Svenska Cellulosa Aktiebolage

Svenska Cellulosa Aktiebolaget consumer goods company and pulp and paper manufacturer based out of Stockholm. Svenska Cellulosa Akteibolage was founded in 1929 by Ivar Kreuger and originally a holding company for ten Swedish forest industry companies. Company’s current products include tissue, publication paper, sawn wood products and wood pulp. Svenska Cellulosa Aktiebolage is under current President and CEO Magnus Groth and Chairman Pär Boman.

facebooktwitterpinterestlinkedinmailby feather