Unibail finds willing buyers for Westfield refi

French shopping centre operator Unibail-Rodamco said in December it planned to sell around €2bn of bonds to refinance the bridge loan it has taken on to fund its $15.7bn acquisition of its Australian peer Westfield Corp. On Monday, it brought the deal to market and received reassuring demand.

  • By Nigel Owen
  • 16 Apr 2018

Unibail's agreed offer of $15.7bn for Westfield's equity, which valued the business at $24.7bn, will be paid 65% in shares in Unibail and a new Dutch real estate investment trust, and just 35% in cash, worth about $5.6bn.

The cash component was covered with a bridge ...

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5 HSBC 16,474.81 91 5.19%

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4 JPMorgan 26,099.31 90 5.50%
5 Deutsche Bank 24,766.67 100 5.21%