Westfield parent company announces €1.25bn bond placement

Unibail-Rodamco-Westfield announces €1.25bn bond placement
// Unibail-Rodamco-Westfield successfully priced a €1.25bn two-tranche senior bond offering
// It includes a €650m bond with a 7-year and 5-month maturity and a 0.75% fixed coupon
// Also includes €600m bond with a 12-year maturity and a 1.375% fixed coupon

The parent company of Westfield shopping centres has announced a new bond placement to help strengthen its liquidity and financial position.

Unabail-Rodamco-Westfield said it secured a €1.25 billion (£1.07 billion) two-tranche senior bond offering.

READ MORE: Westfield owner suffers decline in turnover and rental income

It includes a €650 million (£558 million) bond with a seven year and five month maturity and a 0.75 per cent fixed coupon.

The bond also includes a €600 million (£515 million) bond with a 12 year maturity and a 1.375 p0er cent fixed coupon.

Unabail-Rodamco-Westfield said the net proceeds would be used for general corporate purposes, including the refinancing of upcoming bond maturities.

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