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Aroundtown SA ( (DE:AT1) ) has provided an announcement.
Aroundtown SA has successfully issued €500 million in benchmark perpetual notes with a 5.25% coupon, which were highly demanded by investors, being 5x oversubscribed. Concurrently, the company has launched a tender offer to rebalance its perpetual notes stack by replacing higher coupon notes, aiming to reduce the average coupon rate and potentially decrease the aggregate notional, which is expected to enhance FFO growth while maintaining a strong financial position.
More about Aroundtown SA
Aroundtown SA is the largest listed German commercial real estate company, trading on the Prime Standard of the Frankfurt Stock Exchange. It invests in income-generating quality properties with value-add potential in central locations in top-tier European cities, primarily in Germany, the Netherlands, and London.
Find detailed analytics on AT1 stock on TipRanks’ Stock Analysis page.