In brief

Immobel announces today that it has completed the bookbuilding of a private placement of senior unsecured bonds, due 2016 (the "bonds").

In one day, Immobel raised 30 MEUR at 7%.

Immobel intends to use the net proceeds from the issue of the bonds for the acquisition and the development of new projects.

The bonds are placed with institutional investors, mainly situated in Belgium and Grand-Duchy of Luxembourg, after a bookbuilding process conducted by BNP Paribas Fortis as Lead Manager and Bookrunner.

The bonds will be redeemed at 100% of their principal amount and bear a coupon of 7%, payable annually in arrears. The bonds, which will be issued shortly, are expected to be listed on the Brussels Stock Exchange.

Gaëtan Piret, Managing Director, comments on the transaction as follows: "The completed transaction allows us to increase our financial means in order to sustain our strategy of growth and diversification. More specifically by acquisitions, both in Central Europe and Belux."

 

The full press release

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