Klépierre: Simon issues exchangeable bonds
In a press release, Simon states that the bonds, issued by its European subsidiary Simon Global Development, will have a three-year maturity.
The final terms and conditions will be announced by the end of the day, at the close of the placement, but are expected to show a premium of 20% to Klépierre's weighted share price during Tuesday's trading session.
Analysts expect Simon to reduce its stake in Klépierre by around 9.1%, from 28.7% at the time of its initial investment in 2012 to 22.4% today.
The placement weighed on Klépierre's share price, which fell 4.8% on Tuesday morning, the second biggest drop on the SBF 120 index.
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