LEG woos investors for dual trancher priced over Vonovia

By Mike Turner
19 Nov 2019

LEG Immobilien, the German property company, marketed a multi-tranche bond on Tuesday. Investors looked at the curve of domestic rival Vonovia to divine relative value.

LEG, rated Baa1, has hired Commerzbank, Deutsche Bank and HSBC to arrange European investor calls.

It wants to print a €500m no-grow eight year bond and either a 12 year or a 15 year €300m no-grow, for a total of €800m.

LEG only has one bond ...

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