Ascencio announces the success of a bond offering totalling €32.9 million placed with institutional investors.
This new financing, which begins today and is being conducted as a private placement, consists of the following two tranches:
- €13.9 million for a fixed term of 4 years;
- €19.0 million for a fixed term of 5 years.
Issued at par, it has an average maturity of 4.6 years and carries a weighted average annual coupon rate of 4.80%.
This bond offering is part of the financing structure for the real estate transaction announced on June 10 by Ascencio, namely the acquisition of Arlimmo SA, the owner of the "Espace Shopping Hydrion" retail park in Arlon (Belgium).
To finance this acquisition, valued at approximately €65 million, and subsequently restore its liquidity, Ascencio had decided to draw on various sources of financing, combining:
- a capital increase of €15 million, carried out through an accelerated private placement of new shares to existing shareholders and other institutional investors;
- the conclusion of 2 new bank credit lines totalling €20 million;
- this institutional bond offering, totalling €32.9 million.
These transactions therefore enable Ascencio to restore its financial available capacity, which now stands at approximately €75 million, thereby ensuring the Company's liquidity and enabling it to explore new investment projects.
Banque Degroof Petercam served as Global Coordinator and Joint Bookrunner for this transaction, while ABN AMRO Bank acted as Joint Bookrunner. The parties' legal counsel ("Deal Counsel") was provided by the international law firm Jones Day.
Cédric Biquet, Chief Financial Officer:
"The successful implementation of this financing structure demonstrates the financial markets' renewed confidence in the Company's fundamentals, both in terms of its investment strategy and its financial management. It also recognizes Ascencio's commitment to establishing and maintaining a regular dialogue with its shareholders, bankers, and the institutional investors' community."
