Deutsche Wohnen €500 million 1.375 % debt corporate bond issue

Overview:

• Listed German residential property group, Deutsche Wohnen, issued a €500 million bond as part of a €1.5 billion refinancing. 
• The debut coprate bond was unsecured, fixed-rate, with a coupon of 1.375% and a maturity of July 2020.
• It was listed on the Luxembourg Stock Exchange.
• Deutsche Bank, Société Générale, UBS Investment Bank, UniCredit, and Goldman Sachs were bookrunners on the transaction.
• The bond is the final part of a refinancing which reduced the average interest rate the company is paying on its debt by 0.5% and the companies loan-to-value rate by 5%.  

Ben Naylor - Regional Editor